Filed July 27, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $64,954 |
ADP BROKER-DEALER8+ 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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $6,732 | $30,147-77.7% | $58,544-88.5% | $80,149-91.6% |
| Participation rate | 23.7% | 34.4%-10.7pp | 50.9%-27.2pp | 72.9%-49.3pp |
| Annual return | 17.32% | 21.97%-4.6pp | 4249.56%-4232.2pp | 40.39%-23.1pp |
| Employer contribution / active EE | $330 | $528-37.4% | $1,053-68.6% | $2,977-88.9% |
| Participant deferral / active EE | $1,287 | $1,249+3.0% | $1,923-33.1% | $5,015-74.3% |
| Admin fee / account holder | $74 | $195-61.9% | $2,520-97.1% | $145-48.8% |