Filed April 8, 2022 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 | Recordkeeping | $410 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $35,889 | $58,879-39.0% | $178,490-79.9% | $73,488-51.2% |
| Participation rate | 24.6% | 66.2%-41.7pp | 81.9%-57.4pp | 70.7%-46.1pp |
| Annual return | 16.95% | 24.86%-7.9pp | 151.07%-134.1pp | 28.51%-11.6pp |
| Employer contribution / active EE | $0 | $2,236-100.0% | $5,011-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $1,482 | $2,567-42.3% | $5,202-71.5% | $3,740-60.4% |
| Admin fee / account holder | $332 | $400-17.0% | $13,984-97.6% | $513-35.2% |