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| Provider | Service type | Compensation |
|---|---|---|
THE BENEFIT ADVANTAGE, INC.1+ years Filed as: THE BENEFIT ADVANTAGE Service code 13 · EIN 38-3254950 3497 AUBURN RD · AUBURN HILLS, MI 48432 | Contract Administrator | $6,870 |
NATIONWIDE1+ years Service code 15 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $64,444 | $54,320+18.6% | $67,652-4.7% | $52,331+23.1% |
| Participation rate | 38.1% | 73.6%-35.5pp | 75.7%-37.6pp | 68.1%-30.0pp |
| Annual return | 0.94% | 6.81%-5.9pp | 6625.40%-6624.5pp | 4.54%-3.6pp |
| Employer contribution / active EE | $837 | $1,544-45.8% | $2,266-63.1% | $1,882-55.5% |
| Participant deferral / active EE | $2,078 | $2,950-29.5% | $3,560-41.6% | $3,022-31.2% |
| Admin fee / account holder | $682 | $527+29.5% | $4,821-85.9% | $592+15.3% |