Filed September 26, 2018
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| Provider | Service type | Compensation |
|---|---|---|
DEFINITI LLC3 years Filed as: DEFINITI-LLC Service code 50 3 HOLLAND STREET · ERIE, PA 16507 | Direct Payment | $44,177 |
COURIER CAPITAL1 year Filed as: COURIER CAPITAL LLC Service code 26 214 WEST FIFTH STREET · JAMESTOWN, NY 14701 | Advisory (Participants) | $25,941 |
NORTHWEST BANK9+ years Service code 19 800 STATE STREET · ERIE, PA 16501 | Securities Custodian | $15,761 |
Annual investment return 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.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,093 | $47,126-78.6% | $149,673-93.3% | $74,419-86.4% |
| Participation rate | 81.5% | 63.4%+18.1pp | 78.8%+2.8pp | 70.7%+10.8pp |
| Annual return | 9.92% | 22.75%-12.8pp | 134.42%-124.5pp | 34.38%-24.5pp |
| Employer contribution / active EE | $503 | $1,905-73.6% | $4,818-89.6% | $2,637-80.9% |
| Participant deferral / active EE | $1,512 | $2,728-44.6% | $5,680-73.4% | $4,528-66.6% |
| Admin fee / account holder | $21 | $343-93.8% | $13,210-99.8% | $348-93.9% |