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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 27 150 N. COLLEGE ST · CHARLOTTE, NC 28255 | Advisory (Plan) | $18,536 |
LINCOLN NATIONAL CORPORATION9 years Service code 13 · EIN 35-1140070 | Contract Administrator | $18,136 |
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.
Form 5500 reported that benefits due were not provided when due.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $67,968 | $77,569-12.4% | $115,599-41.2% | $64,097+6.0% |
| Participation rate | 65.1% | 60.7%+4.4pp | 74.3%-9.2pp | 55.2%+9.9pp |
| Annual return | 11.29% | 18.52%-7.2pp | 111.10%-99.8pp | 34.64%-23.4pp |
| Employer contribution / active EE | $925 | $1,915-51.7% | $2,955-68.7% | $1,891-51.1% |
| Participant deferral / active EE | $2,780 | $3,327-16.5% | $4,889-43.1% | $3,080-9.7% |
| Admin fee / account holder | $347 | $4,470-92.2% | $12,841-97.3% | $3,454-90.0% |