Filed December 17, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
LINCOLN NATIONAL CORPORATION3 years Service code 13 · EIN 35-1140070 | Contract Administrator | $48,354 |
Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 27 150 N COLLEGE STREET · CHARLOTTE, NC 28255 | Advisory (Plan) | $35,402 |
RETIREWELL ADMINISTRATORS3 years Filed as: RETIREWELL ADMINISTRATORS, LLC Service code 15 1002 LINCOLN DR. W · MARLTON, NJ 08053 | Recordkeeping | $11,140 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
Assets per participant exceed $250,000 - top-decile high-value plan.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $330,320 | $82,202+301.8% | $125,339+163.5% | $64,808+409.7% |
| Participation rate | 0.0% | 77.9%-77.9pp | 82.4%-82.4pp | 71.5%-71.5pp |
| Annual return | -13.38% | 3.48%-16.9pp | 572.05%-585.4pp | 32.82%-46.2pp |
| Employer contribution / active EE | $549 | $3,615-84.8% | $4,814-88.6% | $2,506-78.1% |
| Participant deferral / active EE | $2,867 | $7,175-60.0% | $7,446-61.5% | $4,310-33.5% |
| Admin fee / account holder | $2,207 | $163+1251.9% | $10,010-78.0% | $188+1075.2% |