Filed December 17, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
LINCOLN NATIONAL CORPORATION4 years Service code 13 · EIN 35-1140070 | Contract Administrator | $54,382 |
Filed as: MERRILL LYNCH, PIERCE, FENNER & SMI Service code 27 150 N COLLEGE STREET · CHARLOTTE, NC 28255 | Advisory (Plan) | $38,478 |
Filed as: ALTIGRO RETIREMENT SERVICES, LLC Service code 15 3 US JIGHWAY 46 WEST · FAIRFIELD, NJ 07004 | Recordkeeping | $15,022 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,397 | $95,369-50.3% | $135,942-65.1% | $74,440-36.3% |
| Participation rate | 37.9% | 78.2%-40.4pp | 81.9%-44.1pp | 70.7%-32.9pp |
| Annual return | 18.68% | 32.72%-14.0pp | 68.28%-49.6pp | 34.37%-15.7pp |
| Employer contribution / active EE | $633 | $3,878-83.7% | $4,858-87.0% | $2,638-76.0% |
| Participant deferral / active EE | $3,293 | $7,788-57.7% | $7,759-57.6% | $4,529-27.3% |
| Admin fee / account holder | $275 | $266+3.1% | $10,764-97.4% | $348-21.1% |