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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $55,033 | $106,028-48.1% | $146,958-62.6% | $77,643-29.1% |
| Participation rate | 43.2% | 78.4%-35.2pp | 82.2%-38.9pp | 70.6%-27.4pp |
| Annual return | 14.02% | 56.73%-42.7pp | 418.34%-404.3pp | 31.24%-17.2pp |
| Employer contribution / active EE | $695 | $4,063-82.9% | $4,933-85.9% | $2,726-74.5% |
| Participant deferral / active EE | $3,723 | $7,990-53.4% | $8,070-53.9% | $4,647-19.9% |
| Admin fee / account holder | $295 | $337-12.5% | $12,998-97.7% | $430-31.4% |