Filed December 17, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
LINCOLN NATIONAL CORPORATION5 years Service code 13 · EIN 35-1140070 | Contract Administrator | $53,825 |
Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 27 150 N COLLEGE STREET · CHARLOTTE, NC 28255 | Advisory (Plan) | $49,755 |
RETIREWELL ADMINISTRATORS5 years Filed as: RETIREWELL ADMINISTRATORS, LLC Service code 15 1002 LINCOLN DR. W · MARLTON, NJ 080531533 | Recordkeeping | $22,571 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $55,033 | $106,264-48.2% | $147,117-62.6% | $77,762-29.2% |
| Participation rate | 43.2% | 78.4%-35.2pp | 82.2%-39.0pp | 70.6%-27.4pp |
| Annual return | 14.02% | 56.94%-42.9pp | 420.54%-406.5pp | 31.27%-17.3pp |
| Employer contribution / active EE | $695 | $4,074-82.9% | $4,932-85.9% | $2,728-74.5% |
| Participant deferral / active EE | $3,723 | $8,003-53.5% | $8,065-53.8% | $4,651-20.0% |
| Admin fee / account holder | $295 | $334-11.7% | $12,993-97.7% | $433-31.8% |