Filed December 5, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $28,408 |
Filed as: ROYAL ALLIANCE ASSOCIATES INC. Service code 27 · EIN 93-0987232 | Advisory (Plan) | $14,541 |
MORNINGSTAR1 year 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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $14,232 | $47,135-69.8% | $149,717-90.5% | $74,440-80.9% |
| Participation rate | 34.0% | 63.4%-29.4pp | 78.8%-44.8pp | 70.7%-36.7pp |
| Annual return | 22.44% | 22.75%-0.3pp | 134.41%-112.0pp | 34.37%-11.9pp |
| Employer contribution / active EE | $303 | $1,906-84.1% | $4,820-93.7% | $2,638-88.5% |
| Participant deferral / active EE | $988 | $2,728-63.8% | $5,682-82.6% | $4,529-78.2% |
| Admin fee / account holder | $160 | $343-53.4% | $13,213-98.8% | $348-54.0% |