Filed November 21, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $46,990 |
Filed as: SUMMIT FINANCIAL GROUP INC. Service code 27 200 N PACIFIC COAST HWY STE 1200 · EL SEGUNDO, CA 90245 | Advisory (Plan) | $20,491 |
AMERICAN FUNDS1 year Filed as: CAPITAL GROUP RETIREMENT PLAN SVS Service code 49 6455 IRVINE CENTER DRIVE · IRVINE, CA 92618 | Other Services | $6,935 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $51,220 | $56,095-8.7% | $178,503-71.3% | $90,274-43.3% |
| Participation rate | 24.7% | 65.6%-40.8pp | 81.9%-57.2pp | 73.4%-48.6pp |
| Annual return | 27.23% | 28.81%-1.6pp | 151.12%-123.9pp | 53.97%-26.7pp |
| Employer contribution / active EE | $515 | $1,572-67.3% | $5,011-89.7% | $2,523-79.6% |
| Participant deferral / active EE | $1,245 | $2,669-53.3% | $5,202-76.1% | $4,231-70.6% |
| Admin fee / account holder | $231 | $101+129.1% | $13,987-98.4% | $114+102.1% |