Filed March 21, 2024
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER1 year Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $845 |
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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,297 | $56,485-71.1% | $185,823-91.2% | $86,799-81.2% |
| Participation rate | 25.4% | 65.5%-40.0pp | 81.7%-56.3pp | 72.3%-46.8pp |
| Annual return | 16.29% | 118.04%-101.7pp | 122.05%-105.8pp | 97.91%-81.6pp |
| Employer contribution / active EE | $466 | $1,843-74.7% | $5,167-91.0% | $2,405-80.6% |
| Participant deferral / active EE | $1,009 | $2,553-60.5% | $5,568-81.9% | $4,131-75.6% |
| Admin fee / account holder | $74 | $150-50.4% | $16,237-99.5% | $170-56.2% |