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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE3+ years Service code 15 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $35,699 |
THE BENEFIT ADVANTAGE, INC.3+ years Filed as: THE BENEFIT ADVANTAGE Service code 13 · EIN 38-3254950 3497 AUBURN RD · AUBURN HILLS, MI 48432 | Contract Administrator | $8,418 |
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 | $87,978 | $64,909+35.5% | $82,312+6.9% | $62,293+41.2% |
| Participation rate | 38.8% | 74.9%-36.1pp | 76.9%-38.1pp | 69.5%-30.7pp |
| Annual return | 19.46% | 21.18%-1.7pp | 25.88%-6.4pp | 28.90%-9.4pp |
| Employer contribution / active EE | $883 | $1,676-47.3% | $2,428-63.6% | $2,042-56.8% |
| Participant deferral / active EE | $2,272 | $3,103-26.8% | $3,706-38.7% | $3,169-28.3% |
| Admin fee / account holder | $832 | $440+89.4% | $5,608-85.2% | $479+73.7% |