Filed October 16, 2024 (most recent of 3 filings on file)
Total covered: 78 employees
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.6 years Service code 15 · EIN 27-2037969 | Recordkeeping | $144,399 |
D.B. ROOT & COMPANY, LLC4 years Filed as: D,B. ROOT & CO., LLC Service code 26 436 7TH AVE. · PITTSBURGH, PA 15219 | Advisory (Participants) | $19,363 |
NEWPORT GROUP, INC.2 years Filed as: NEWPORT TRUST COMPANY Service code 20 · EIN 27-4411131 | Trustee (individual); Trustee (bank, ... | $7,838 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $31,413 | $44,897-30.0% | $85,009-63.0% | $199,768-84.3% |
| Participation rate | 14.4% | 45.7%-31.3pp | 67.5%-53.1pp | 72.0%-57.6pp |
| Annual return | 17.53% | 20.96%-3.4pp | 66.47%-48.9pp | 34.26%-16.7pp |
| Employer contribution / active EE | $88 | $1,365-93.6% | $2,728-96.8% | $3,037-97.1% |
| Participant deferral / active EE | $1,435 | $2,668-46.2% | $4,522-68.3% | $5,090-71.8% |
| Admin fee / account holder | $188 | $584-67.9% | $6,153-96.9% | $269-30.2% |