Filed December 17, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 35-1140070 | Contract Administrator | $9,357 |
Filed as: RETIREWELL ADMINISTRATORS, LLC Service code 15 1002 LINCOLN DR. W · MARLTON, NJ 08053 | Recordkeeping | $2,700 |
Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 27 150 N COLLEGE STREET · CHARLOTTE, NC 28255 | Advisory (Plan) | $1,718 |
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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $51,825 | $100,801-48.6% | $149,730-65.4% | $73,412-29.4% |
| Participation rate | 36.7% | 77.7%-41.0pp | 82.5%-45.8pp | 72.2%-35.5pp |
| Annual return | 9.98% | 265.34%-255.4pp | 276.70%-266.7pp | 59.30%-49.3pp |
| Employer contribution / active EE | $538 | $3,312-83.8% | $4,645-88.4% | $2,234-75.9% |
| Participant deferral / active EE | $2,394 | $6,404-62.6% | $6,843-65.0% | $3,806-37.1% |
| Admin fee / account holder | $264 | $181+45.9% | $9,310-97.2% | $158+67.1% |