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| Provider | Service type | Compensation |
|---|---|---|
BB&T4+ years Filed as: BB&T INSTITUTIONAL SERVICES Service code 15 · EIN 56-0939887 | Recordkeeping | $3,750 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,867 | $60,795-87.1% | $69,483-88.7% | $65,186-87.9% |
| Participation rate | 47.6% | 74.9%-27.2pp | 74.6%-27.0pp | 70.2%-22.6pp |
| Annual return | 7.17% | 17.46%-10.3pp | 28.99%-21.8pp | 29.39%-22.2pp |
| Employer contribution / active EE | $674 | $2,452-72.5% | $2,780-75.7% | $2,177-69.0% |
| Participant deferral / active EE | $988 | $3,162-68.8% | $3,537-72.1% | $3,514-71.9% |
| Admin fee / account holder | $28 | $314-91.1% | $3,841-99.3% | $847-96.7% |