Filed November 13, 2023
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| Provider | Service type | Compensation |
|---|---|---|
BENEFIT CONSULTANTS GROUP3+ years Service code 26 · EIN 23-2383285 | Advisory (Participants) | $10,638 |
NEWPORT GROUP, INC.1 year Service code 15 · EIN 27-2037969 | Recordkeeping | $8,226 |
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.
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 | $22,234 | $37,196-40.2% | $154,108-85.6% | $55,725-60.1% |
| Participation rate | 35.0% | 64.1%-29.1pp | 83.0%-48.0pp | 70.9%-35.8pp |
| Annual return | 9.25% | 1319.68%-1310.4pp | 735.21%-726.0pp | 244.93%-235.7pp |
| Employer contribution / active EE | $352 | $1,614-78.2% | $5,298-93.3% | $2,078-83.0% |
| Participant deferral / active EE | $477 | $2,068-76.9% | $5,081-90.6% | $3,356-85.8% |
| Admin fee / account holder | $193 | $102+90.4% | $13,411-98.6% | $115+68.0% |