Filed June 12, 2024
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| Provider | Service type | Compensation |
|---|---|---|
AMERICAN FUNDS6 years Service code 15 · EIN 96-6817943 | Recordkeeping | $3,859 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $11,395 | $55,457-79.5% | $76,119-85.0% | $77,736-85.3% |
| Participation rate | 54.7% | 63.6%-8.9pp | 69.1%-14.4pp | 70.6%-15.9pp |
| Annual return | 12.69% | 17.09%-4.4pp | 361.25%-348.6pp | 31.26%-18.6pp |
| Employer contribution / active EE | $602 | $1,792-66.4% | $2,693-77.6% | $2,728-77.9% |
| Participant deferral / active EE | $1,478 | $3,454-57.2% | $4,259-65.3% | $4,651-68.2% |
| Admin fee / account holder | $18 | $411-95.7% | $6,421-99.7% | $433-95.9% |