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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MACATAWA BANK - RETIREMENT PLAN SER Service code 15 · EIN 38-3378283 | Recordkeeping | $12,173 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $21,922 | $65,376-66.5% | $87,104-74.8% | $65,185-66.4% |
| Participation rate | 52.2% | 75.3%-23.1pp | 76.9%-24.7pp | 70.2%-18.0pp |
| Annual return | 22.41% | 31.27%-8.9pp | 28.19%-5.8pp | 29.38%-7.0pp |
| Employer contribution / active EE | $0 | $1,822-100.0% | $2,521-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $1,234 | $3,388-63.6% | $4,048-69.5% | $3,514-64.9% |
| Admin fee / account holder | $143 | $520-72.4% | $7,491-98.1% | $847-83.1% |