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| Provider | Service type | Compensation |
|---|---|---|
Filed as: COMMONWEALTH FINANCIAL Service code 17 300 METRO CENTER BLVD SUITE 275 · WARWICK, RI 02886 | Pension Consulting | $6,545 |
COMPENSATION PLANNING INC.2 years Filed as: COMPENSATION PLANNING Service code 10 67 JEFFERSON BOULEVARD · WARWICK, RI 02888 | Accounting | $1,100 |
AMERICAN FUNDS2 years Service code 15 · EIN 82-4555287 | Recordkeeping | $665 |
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $17,752 | $50,947-65.2% | $74,549-76.2% | $64,173-72.3% |
| Participation rate | 47.7% | 61.1%-13.4pp | 69.1%-21.5pp | 69.6%-21.9pp |
| Annual return | -4.34% | -1.85%-2.5pp | 32.53%-36.9pp | 7.63%-12.0pp |
| Employer contribution / active EE | $80 | $1,115-92.8% | $1,961-95.9% | $2,381-96.6% |
| Participant deferral / active EE | $1,095 | $2,302-52.4% | $3,108-64.8% | $3,470-68.4% |
| Admin fee / account holder | $25 | $4,221-99.4% | $5,059-99.5% | $4,887-99.5% |