Filed January 18, 2022
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.7 years Filed as: NEWPORT RETIREMENT SERVICES, INC. Service code 15 · EIN 62-1868111 13925 BALLANTYNE CORPORATE PLACE · CHARLOTTE, NC 28277 | Recordkeeping | $34,740 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $36,083 | $79,124-54.4% | $60,874-40.7% | $64,808-44.3% |
| Participation rate | 26.0% | 77.7%-51.7pp | 73.1%-47.1pp | 71.5%-45.4pp |
| Annual return | -15.08% | -7.13%-8.0pp | 16.90%-32.0pp | 32.82%-47.9pp |
| Employer contribution / active EE | $0 | $3,050-100.0% | $2,701-100.0% | $2,506-100.0% |
| Participant deferral / active EE | $1,029 | $3,725-72.4% | $3,817-73.0% | $4,310-76.1% |
| Admin fee / account holder | $44 | $106-58.0% | $3,224-98.6% | $188-76.4% |