Filed January 12, 2022
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| Provider | Service type | Compensation |
|---|---|---|
HEFREN-TILLOTSON, INC.5+ years Filed as: HEFREN TILLOTSON, INC. Service code 10 · EIN 25-1121408 308 SEVENTH AVE. · PITTSBURGH, PA 15222 | Accounting | $0 |
Service code 15 · EIN 01-0233346 308 SEVENTH AVENUE · PITTSBURGH, PA 15222 | Recordkeeping | $0 |
METRO BENEFITS, INC.5+ years Service code 17 · EIN 25-1541083 P.O. BOX 600 · BUFFALO, NY 142010600 | Pension Consulting | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $57,295 | $40,174+42.6% | $84,021-31.8% | $67,579-15.2% |
| Participation rate | 57.3% | 62.7%-5.4pp | 69.0%-11.8pp | 71.3%-14.0pp |
| Annual return | 21.71% | 25.82%-4.1pp | 71.32%-49.6pp | 378.56%-356.8pp |
| Employer contribution / active EE | $0 | $808-100.0% | $1,984-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $2,100 | $2,301-8.7% | $3,239-35.2% | $3,539-40.7% |
| Admin fee / account holder | $349 | $128+172.3% | $6,102-94.3% | $142+145.5% |