Filed May 4, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER1+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $625 |
ADP BROKER-DEALER1+ years Service code 59 · EIN 22-3319984 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
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 | $16,956 | $70,002-75.8% | $115,038-85.3% | $52,331-67.6% |
| Participation rate | 67.5% | 72.1%-4.6pp | 81.4%-13.9pp | 68.1%-0.6pp |
| Annual return | 1.26% | 4.04%-2.8pp | 26.14%-24.9pp | 4.54%-3.3pp |
| Employer contribution / active EE | $502 | $2,715-81.5% | $4,608-89.1% | $1,882-73.3% |
| Participant deferral / active EE | $5,169 | $4,920+5.1% | $6,026-14.2% | $3,022+71.1% |
| Admin fee / account holder | $25 | $566-95.5% | $8,175-99.7% | $592-95.7% |