Filed May 17, 2023
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| Provider | Service type | Compensation |
|---|---|---|
CORNERSTONE ADVISORS ASSET MGMT5+ 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 | $122,003 | $55,790+118.7% | $76,657+59.2% | $67,579+80.5% |
| Participation rate | 90.2% | 71.1%+19.1pp | 72.1%+18.1pp | 71.3%+18.9pp |
| Annual return | 21.04% | 64.45%-43.4pp | 1166.74%-1145.7pp | 378.56%-357.5pp |
| Employer contribution / active EE | $5,699 | $1,810+214.8% | $2,303+147.5% | $2,148+165.3% |
| Participant deferral / active EE | $4,500 | $2,875+56.5% | $3,335+34.9% | $3,539+27.1% |
| Admin fee / account holder | $412 | $159+158.7% | $6,423-93.6% | $142+189.4% |