Filed January 18, 2022
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.2 years Filed as: NEWPORT RETIREMENT SERVICES, INC. Service code 15 · EIN 62-1868111 13925 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277 | Recordkeeping | $21,697 |
ADP BROKER-DEALER1 year Filed as: ADP Service code 15 · EIN 22-1467904 | Recordkeeping | $11,836 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $30,935 | $92,091-66.4% | $63,018-50.9% | $77,958-60.3% |
| Participation rate | 36.9% | 74.5%-37.6pp | 74.8%-37.9pp | 71.6%-34.8pp |
| Annual return | 15.49% | 16.23%-0.7pp | 87.62%-72.1pp | 20.87%-5.4pp |
| Employer contribution / active EE | $0 | $3,424-100.0% | $2,761-100.0% | $2,310-100.0% |
| Participant deferral / active EE | $1,005 | $3,361-70.1% | $3,330-69.8% | $3,537-71.6% |
| Admin fee / account holder | $33 | $48-30.2% | $3,601-99.1% | $97-65.6% |