Filed January 18, 2022
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.4 years Filed as: NEWPORT RETIREMENT SERVICES, INC. Service code 15 · EIN 62-1868111 13925 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277 | Recordkeeping | $78,226 |
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 | $29,818 | $95,542-68.8% | $69,483-57.1% | $67,582-55.9% |
| Participation rate | 44.5% | 79.4%-34.9pp | 74.6%-30.1pp | 71.3%-26.8pp |
| Annual return | 19.82% | 17.67%+2.2pp | 28.99%-9.2pp | 378.57%-358.7pp |
| Employer contribution / active EE | $0 | $2,989-100.0% | $2,780-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $900 | $3,263-72.4% | $3,537-74.6% | $3,539-74.6% |
| Admin fee / account holder | $76 | $90-14.9% | $3,841-98.0% | $142-46.2% |