Filed November 9, 2023
Total covered: 18 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $32,235 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $135,416 | $110,258+22.8% | $102,460+32.2% | $200,096-32.3% |
| Participation rate | 69.6% | 86.3%-16.7pp | 76.5%-6.9pp | 72.0%-2.4pp |
| Annual return | 12.19% | 35.78%-23.6pp | 29.47%-17.3pp | 34.26%-22.1pp |
| Employer contribution / active EE | $6,526 | $3,605+81.1% | $3,025+115.7% | $3,038+114.9% |
| Participant deferral / active EE | $4,759 | $6,377-25.4% | $5,056-5.9% | $5,090-6.5% |
| Admin fee / account holder | $14 | $122-88.7% | $9,460-99.9% | $269-94.9% |