Filed August 9, 2017 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
NOVA 401(K) ASSOCIATES2 years Filed as: NOVA 401K ASSOCIATES Service code 17 · EIN 22-0118145 10777 NORTHWEST FWY · HOUSTON, TX 770927319 | Pension Consulting | $17,816 |
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 | Recordkeeping | $17,602 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,782 | $29,516-49.9% | $77,513-80.9% | $90,274-83.6% |
| Participation rate | 7.5% | 33.7%-26.1pp | 54.2%-46.7pp | 73.4%-65.8pp |
| Annual return | 51.25% | 231.18%-179.9pp | 54.81%-3.6pp | 53.97%-2.7pp |
| Employer contribution / active EE | $61 | $381-83.9% | $987-93.8% | $2,523-97.6% |
| Participant deferral / active EE | $204 | $944-78.4% | $1,861-89.0% | $4,231-95.2% |
| Admin fee / account holder | $187 | $106+77.0% | $2,859-93.4% | $114+64.3% |