Filed February 12, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PNC BANK, N.A.2+ years Service code 25 · EIN 25-1211909 | Directed Trustee | $5,325 |
PNC BANK, N.A.2+ years Filed as: PNC BANK, NATIONAL ASSOCIATION Service code 52 | Indirect Investment Fees | $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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $64,680 | $57,921+11.7% | $84,753-23.7% | $57,658+12.2% |
| Participation rate | 15.0% | 72.9%-57.9pp | 76.6%-61.6pp | 70.2%-55.2pp |
| Annual return | 7.58% | 10.24%-2.7pp | 22.78%-15.2pp | 5.13%+2.5pp |
| Employer contribution / active EE | $0 | $2,598-100.0% | $3,574-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $863 | $2,742-68.5% | $3,712-76.8% | $3,061-71.8% |
| Admin fee / account holder | $52 | $130-59.7% | $5,333-99.0% | $95-44.8% |