Filed August 1, 2022
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| Provider | Service type | Compensation |
|---|---|---|
COUNTRY TRUST BANK7+ years Service code 15 1705 TOWANDA AVE · BLOOMINGTON, IL 61761 | Recordkeeping | $15,064 |
NEWPORT GROUP, INC.1 year Service code 13 · EIN 27-2037969 | Contract Administrator | $6,136 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $18,016 | $79,151-77.2% | $60,919-70.4% | $64,824-72.2% |
| Participation rate | 33.3% | 77.7%-44.4pp | 73.1%-39.8pp | 71.5%-38.1pp |
| Annual return | -13.48% | -7.12%-6.4pp | 16.96%-30.4pp | 32.84%-46.3pp |
| Employer contribution / active EE | $0 | $3,052-100.0% | $2,704-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $911 | $3,727-75.6% | $3,814-76.1% | $4,311-78.9% |
| Admin fee / account holder | $151 | $106+42.5% | $3,228-95.3% | $188-19.8% |