Filed February 19, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
NBT BANCORP NA10+ years Service code 21 · EIN 16-1268674 | Bank Trustee | $39,855 |
CHARLES SCHWAB & CO., INC.10+ years Service code 59 · EIN 94-1737782 | Shareholder Servicing | $0 |
Service code 15 · EIN 16-1450952 | Recordkeeping | $0 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $32,492 | $50,820-36.1% | $155,567-79.1% | $77,671-58.2% |
| Participation rate | 26.1% | 63.1%-37.0pp | 78.2%-52.1pp | 70.6%-44.5pp |
| Annual return | 11.99% | 34.85%-22.9pp | 64.74%-52.7pp | 31.21%-19.2pp |
| Employer contribution / active EE | $306 | $1,993-84.7% | $4,674-93.5% | $2,726-88.8% |
| Participant deferral / active EE | $955 | $2,823-66.2% | $5,628-83.0% | $4,648-79.5% |
| Admin fee / account holder | $157 | $436-63.9% | $15,916-99.0% | $430-63.5% |