Filed October 1, 2024 (most recent of 5 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 12 10 CUTTERMILL RD STE 302 · GREAT NECK, NY 110213201 | Redemption fees; Claims processing | $10,317 |
Service code 15 · EIN 48-1205033 | Recordkeeping | $6,856 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $42,672 | $53,774-20.6% | $134,162-68.2% | $79,856-46.6% |
| Participation rate | 39.3% | 58.8%-19.4pp | 72.2%-32.9pp | 69.6%-30.3pp |
| Annual return | 12.01% | 19.01%-7.0pp | 36.35%-24.3pp | 31.71%-19.7pp |
| Employer contribution / active EE | $0 | $1,322-100.0% | $3,705-100.0% | $2,471-100.0% |
| Participant deferral / active EE | $2,324 | $2,420-4.0% | $3,500-33.6% | $3,741-37.9% |
| Admin fee / account holder | $301 | $3,985-92.4% | $6,685-95.5% | $5,306-94.3% |