Filed May 4, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER2+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $1,075 |
ADP BROKER-DEALER2+ 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.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,687 | $51,244-59.6% | $80,977-74.5% | $55,167-62.5% |
| Participation rate | 63.3% | 71.7%-8.4pp | 75.8%-12.6pp | 69.0%-5.7pp |
| Annual return | 14.27% | 17.39%-3.1pp | 17.11%-2.8pp | 169.23%-155.0pp |
| Employer contribution / active EE | $629 | $1,770-64.4% | $3,715-83.1% | $1,963-67.9% |
| Participant deferral / active EE | $5,857 | $4,418+32.6% | $5,696+2.8% | $3,054+91.8% |
| Admin fee / account holder | $30 | $398-92.5% | $5,517-99.5% | $504-94.1% |