Filed June 2, 2020
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE1 year Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $30,726 |
MORGAN STANLEY SMITH BARNEY2 years Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 26 1 NEW YORK PLAZA, 12TH FL · NEW YORK, NY 10004 | Advisory (Participants) | $0 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $38,442 | $48,064-20.0% | $78,778-51.2% | $69,631-44.8% |
| Participation rate | 23.3% | 61.6%-38.3pp | 69.2%-45.9pp | 70.7%-47.4pp |
| Annual return | 12.88% | 21.81%-8.9pp | 35.62%-22.7pp | 27571.02%-27558.1pp |
| Employer contribution / active EE | $202 | $744-72.9% | $1,986-89.8% | $2,032-90.1% |
| Participant deferral / active EE | $806 | $2,079-61.2% | $2,958-72.7% | $3,224-75.0% |
| Admin fee / account holder | $389 | $152+155.9% | $5,134-92.4% | $110+252.2% |