Filed September 19, 2019 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $432,495 |
WELLS FARGO BANK, N.A.5 years Service code 15 · EIN 94-1347393 | Recordkeeping | $380,804 |
Filed as: TOWERS WATSON INVESTMENT Service code 27 · EIN 52-1868818 | Advisory (Plan) | $74,710 |
KPMG LLP7+ years Service code 10 · EIN 13-5565207 | Accounting | $68,357 |
Filed as: MIDWEST SERIES OF LOCKTON Service code 13 · EIN 20-5846369 | Contract Administrator | $20,000 |
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 | $28,248 | $56,274-49.8% | $109,923-74.3% | $106,520-73.5% |
| Participation rate | 56.0% | 46.3%+9.8pp | 74.2%-18.2pp | 71.3%-15.3pp |
| Annual return | 16.01% | 27.85%-11.8pp | 29.46%-13.5pp | 19.28%-3.3pp |
| Employer contribution / active EE | $842 | $1,010-16.6% | $2,844-70.4% | $2,840-70.3% |
| Participant deferral / active EE | $1,902 | $1,973-3.6% | $4,048-53.0% | $4,948-61.6% |
| Admin fee / account holder | $62 | $57+8.9% | $6,070-99.0% | $75-16.6% |