Filed November 12, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: RAYMOND JAMES FSA INC. Service code 26 · EIN 59-2937883 | Advisory (Participants) | $43,541 |
Service code 13 · EIN 27-2487837 1110 N. MOUNTAIN RD · HARRISBURG, PA 17112 | Contract Administrator | $29,147 |
Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $8,966 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $91,936 | $86,225+6.6% | $146,685-37.3% | $86,813+5.9% |
| Participation rate | 66.0% | 78.0%-12.0pp | 80.1%-14.1pp | 72.3%-6.3pp |
| Annual return | 14.11% | 31.23%-17.1pp | 22.75%-8.6pp | 97.93%-83.8pp |
| Employer contribution / active EE | $741 | $2,392-69.0% | $4,137-82.1% | $2,406-69.2% |
| Participant deferral / active EE | $3,717 | $4,245-12.4% | $5,507-32.5% | $4,131-10.0% |
| Admin fee / account holder | $485 | $195+148.4% | $10,281-95.3% | $170+186.1% |