Filed May 17, 2023
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| Provider | Service type | Compensation |
|---|---|---|
CORNERSTONE ADVISORS ASSET MGMT4+ 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 | $104,214 | $48,261+115.9% | $68,612+51.9% | $55,725+87.0% |
| Participation rate | 86.9% | 71.0%+15.8pp | 72.2%+14.6pp | 70.9%+16.0pp |
| Annual return | -5.87% | -2.61%-3.3pp | -4.63%-1.2pp | 244.93%-250.8pp |
| Employer contribution / active EE | $6,247 | $1,742+258.6% | $2,625+138.0% | $2,078+200.6% |
| Participant deferral / active EE | $4,059 | $2,712+49.7% | $3,311+22.6% | $3,356+21.0% |
| Admin fee / account holder | $398 | $126+215.6% | $5,131-92.2% | $115+245.7% |