Filed January 4, 2024 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
BANKPLUS WEALTH MANAGEMENT7+ years Filed as: BANKPLUS WEALTH MANAGEMENT GROUP Service code 27 · EIN 64-0134513 | Advisory (Plan) | $197,747 |
NEWPORT GROUP, INC.4 years Service code 15 · EIN 27-2037969 | Recordkeeping | $82,301 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $56,564 | $56,5400% | $185,849-69.6% | $86,821-34.9% |
| Participation rate | 67.7% | 65.5%+2.2pp | 81.7%-14.0pp | 72.3%-4.6pp |
| Annual return | 9.19% | 118.20%-109.0pp | 122.10%-112.9pp | 97.94%-88.7pp |
| Employer contribution / active EE | $1,771 | $1,844-4.0% | $5,169-65.7% | $2,406-26.4% |
| Participant deferral / active EE | $2,330 | $2,555-8.8% | $5,569-58.2% | $4,132-43.6% |
| Admin fee / account holder | $263 | $150+75.7% | $16,244-98.4% | $170+55.1% |