Filed January 12, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 308 SEVENTH AVENUE · PITTSBURGH, PA 15222 | Recordkeeping | $403 |
HEFREN-TILLOTSON, INC.6+ years Filed as: HEFREN TILLOTSON, INC. Service code 10 · EIN 25-1121408 308 SEVENTH AVE. · PITTSBURGH, PA 15222 | Accounting | $0 |
METRO BENEFITS, INC.6+ 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 | $64,001 | $64,286-0.4% | $90,970-29.6% | $73,412-12.8% |
| Participation rate | 58.6% | 63.6%-5.0pp | 69.0%-10.4pp | 72.2%-13.6pp |
| Annual return | 15.83% | 21.46%-5.6pp | 134.58%-118.8pp | 59.30%-43.5pp |
| Employer contribution / active EE | $0 | $895-100.0% | $2,122-100.0% | $2,234-100.0% |
| Participant deferral / active EE | $2,172 | $2,453-11.5% | $3,373-35.6% | $3,806-42.9% |
| Admin fee / account holder | $339 | $287+18.2% | $5,960-94.3% | $158+115.0% |