Filed April 24, 2019
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.9 years Service code 15 · EIN 27-2037969 | Recordkeeping | $17,972 |
BLUEFIN FINANCIAL7 years Service code 27 212 W. ROUTE 38 · MOORESTOWN, NJ 08057 | Advisory (Plan) | $12,304 |
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.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $57,888 | $45,109+28.3% | $85,240-32.1% | $77,762-25.6% |
| Participation rate | 25.1% | 48.7%-23.6pp | 67.5%-42.4pp | 70.6%-45.5pp |
| Annual return | 12.84% | 79.55%-66.7pp | 66.75%-53.9pp | 31.27%-18.4pp |
| Employer contribution / active EE | $0 | $1,602-100.0% | $2,735-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $802 | $2,814-71.5% | $4,527-82.3% | $4,651-82.8% |
| Admin fee / account holder | $336 | $915-63.2% | $6,165-94.5% | $433-22.3% |