Filed April 24, 2019
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.3 years Service code 12 · EIN 27-2037969 | Recordkeeping fees; Participant loan ... | $14,797 |
BLUEFIN FINANCIAL1 year Service code 27 212 W. ROUTE 38, SUITE 106 · MOORESTOWN, NJ 08057 | Advisory (Plan) | $11,809 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $10,462 | $44,473-76.5% | $76,518-86.3% | $55,725-81.2% |
| Participation rate | 54.6% | 51.0%+3.6pp | 68.0%-13.4pp | 70.9%-16.2pp |
| Annual return | -5.22% | -2.01%-3.2pp | -0.27%-5.0pp | 244.93%-250.2pp |
| Employer contribution / active EE | $0 | $1,101-100.0% | $2,647-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $735 | $1,988-63.0% | $3,836-80.8% | $3,356-78.1% |
| Admin fee / account holder | $63 | $134-53.0% | $4,849-98.7% | $115-45.3% |