Filed July 27, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER3 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $56,568 |
ADP BROKER-DEALER7+ 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.
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 signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $5,117 | $30,086-83.0% | $61,373-91.7% | $64,808-92.1% |
| Participation rate | 27.4% | 36.4%-9.0pp | 52.6%-25.2pp | 71.5%-44.1pp |
| Annual return | -10.75% | -13.99%+3.2pp | 338.61%-349.4pp | 32.82%-43.6pp |
| Employer contribution / active EE | $417 | $536-22.2% | $1,159-64.0% | $2,506-83.3% |
| Participant deferral / active EE | $1,591 | $1,126+41.3% | $2,125-25.1% | $4,310-63.1% |
| Admin fee / account holder | $75 | $148-49.4% | $2,130-96.5% | $188-60.0% |