Filed May 17, 2023
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| Provider | Service type | Compensation |
|---|---|---|
CORNERSTONE ADVISORS ASSET MGMT3+ years Filed as: CORNERSTONE INSTITUTIONAL Service code 26 · EIN 27-2218037 | Advisory (Participants) | $0 |
Filed as: JOHN HANCOCK LIFE INS. CO. (U.S.A.) Service code 15 · EIN 01-0233346 | Recordkeeping | $0 |
Filed as: PARAGON ALLIANCE GROUP, LLC Service code 17 · EIN 23-3044062 | Pension Consulting | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $111,309 | $53,925+106.4% | $75,501+47.4% | $69,631+59.9% |
| Participation rate | 84.5% | 71.2%+13.3pp | 72.4%+12.1pp | 70.7%+13.8pp |
| Annual return | 17.27% | 17.84%-0.6pp | 27.35%-10.1pp | 27571.02%-27553.8pp |
| Employer contribution / active EE | $5,711 | $1,802+216.9% | $2,352+142.8% | $2,032+181.1% |
| Participant deferral / active EE | $4,031 | $2,569+56.9% | $3,142+28.3% | $3,224+25.1% |
| Admin fee / account holder | $428 | $97+340.8% | $5,801-92.6% | $110+287.6% |