Filed July 27, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER5 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $113,655 |
ADP BROKER-DEALER9+ years Service code 59 · EIN 22-3319984 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $8,502 | $31,741-73.2% | $56,025-84.8% | $200,096-95.8% |
| Participation rate | 25.9% | 32.3%-6.4pp | 52.5%-26.6pp | 72.0%-46.1pp |
| Annual return | 18.82% | 14.72%+4.1pp | 1712.69%-1693.9pp | 34.26%-15.4pp |
| Employer contribution / active EE | $372 | $508-26.7% | $1,042-64.3% | $3,038-87.8% |
| Participant deferral / active EE | $1,388 | $1,184+17.2% | $1,955-29.0% | $5,090-72.7% |
| Admin fee / account holder | $119 | $426-72.0% | $2,828-95.8% | $269-55.7% |