Filed March 6, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PNC BANK, N.A.5+ years Service code 25 · EIN 22-1146430 | Directed Trustee | $49,565 |
NEWPORT GROUP, INC.1 year Service code 15 · EIN 27-2037969 | Recordkeeping | $35,104 |
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 | $69,498 | $44,794+55.1% | $90,324-23.1% | $77,775-10.6% |
| Participation rate | 23.6% | 66.6%-42.9pp | 73.3%-49.6pp | 73.2%-49.6pp |
| Annual return | 21.15% | 28.23%-7.1pp | 78.15%-57.0pp | 32.58%-11.4pp |
| Employer contribution / active EE | $443 | $1,809-75.5% | $2,856-84.5% | $2,504-82.3% |
| Participant deferral / active EE | $551 | $2,642-79.1% | $3,885-85.8% | $3,966-86.1% |
| Admin fee / account holder | $168 | $94+77.5% | $5,356-96.9% | $100+67.5% |