Filed November 13, 2023
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| Provider | Service type | Compensation |
|---|---|---|
THE DAVID J. YVARS GROUP5 years Service code 27 400 COLUMBUS AVE · VALHALLA, NY 10595 | Advisory (Plan) | $13,922 |
NEWPORT GROUP, INC.7 years Service code 15 · EIN 27-2037969 | Recordkeeping | $5,951 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $33,222 | $50,860-34.7% | $155,574-78.6% | $77,714-57.3% |
| Participation rate | 41.1% | 63.1%-22.0pp | 78.2%-37.1pp | 70.6%-29.5pp |
| Annual return | 16.45% | 34.86%-18.4pp | 64.87%-48.4pp | 31.26%-14.8pp |
| Employer contribution / active EE | $1,320 | $1,991-33.7% | $4,676-71.8% | $2,727-51.6% |
| Participant deferral / active EE | $703 | $2,825-75.1% | $5,629-87.5% | $4,649-84.9% |
| Admin fee / account holder | $146 | $436-66.5% | $15,914-99.1% | $433-66.3% |