Filed December 5, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER3 years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $165 |
ADP BROKER-DEALER4+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS Service code 49 500 PLUM ST BRIDGEWATER PLACE · SYRACUSE, NY 13204 | Other Services | $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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $21,437 | $37,196-42.4% | $154,108-86.1% | $55,725-61.5% |
| Participation rate | 17.5% | 64.1%-46.6pp | 83.0%-65.6pp | 70.9%-53.4pp |
| Annual return | -4.26% | 1319.68%-1323.9pp | 735.21%-739.5pp | 244.93%-249.2pp |
| Employer contribution / active EE | $0 | $1,614-100.0% | $5,298-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $588 | $2,068-71.6% | $5,081-88.4% | $3,356-82.5% |
| Admin fee / account holder | $3 | $102-97.5% | $13,411-100.0% | $115-97.8% |