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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE2+ years Service code 15 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $30,836 |
THE BENEFIT ADVANTAGE, INC.2+ years Filed as: THE BENEFIT ADVANTAGE Service code 13 · EIN 38-3254950 3497 AUBURN RD · AUBURN HILLS, MI 48432 | Contract Administrator | $7,321 |
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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $71,348 | $60,165+18.6% | $74,184-3.8% | $55,167+29.3% |
| Participation rate | 38.4% | 74.2%-35.8pp | 76.6%-38.2pp | 69.0%-30.6pp |
| Annual return | 3.40% | 10.00%-6.6pp | 17.74%-14.3pp | 169.23%-165.8pp |
| Employer contribution / active EE | $829 | $1,600-48.1% | $2,370-65.0% | $1,963-57.7% |
| Participant deferral / active EE | $2,339 | $2,973-21.3% | $3,550-34.1% | $3,054-23.4% |
| Admin fee / account holder | $707 | $419+68.5% | $5,586-87.3% | $504+40.2% |