Filed January 13, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: BENEFIT PLANS ADMINISTRATIVE SVCS Service code 15 · EIN 16-1503696 6 RHOADS DRIVE · UTICA, NY 135026374 | Recordkeeping | $14,346 |
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.
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 | $22,307 | $55,182-59.6% | $73,309-69.6% | $55,191-59.6% |
| Participation rate | 42.7% | 73.9%-31.2pp | 74.9%-32.2pp | 69.2%-26.4pp |
| Annual return | 2.28% | 8.55%-6.3pp | 5.67%-3.4pp | 10.78%-8.5pp |
| Employer contribution / active EE | $509 | $1,935-73.7% | $3,237-84.3% | $1,899-73.2% |
| Participant deferral / active EE | $888 | $4,641-80.9% | $4,991-82.2% | $3,046-70.9% |
| Admin fee / account holder | $47 | $68-30.8% | $5,635-99.2% | $91-47.8% |