Filed December 5, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $33,248 |
Filed as: ROYAL ALLIANCE ASSOCIATES INC. Service code 27 · EIN 93-0987232 | Advisory (Plan) | $14,452 |
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $17,588 | $50,919-65.5% | $155,556-88.7% | $77,762-77.4% |
| Participation rate | 29.1% | 63.1%-34.0pp | 78.2%-49.2pp | 70.6%-41.5pp |
| Annual return | 12.84% | 34.84%-22.0pp | 64.84%-52.0pp | 31.27%-18.4pp |
| Employer contribution / active EE | $296 | $1,991-85.1% | $4,675-93.7% | $2,728-89.1% |
| Participant deferral / active EE | $881 | $2,824-68.8% | $5,631-84.4% | $4,651-81.1% |
| Admin fee / account holder | $166 | $437-62.0% | $15,885-99.0% | $433-61.7% |