Filed April 24, 2019
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.5 years Service code 12 · EIN 27-2037969 | Claims processing; Recordkeeping and ... | $24,803 |
BLUEFIN FINANCIAL3 years Service code 27 212 W. ROUTE 38 · MOORESTOWN, NJ 08057 | Advisory (Plan) | $11,675 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $27,052 | $39,948-32.3% | $89,414-69.7% | $73,412-63.2% |
| Participation rate | 46.7% | 50.4%-3.7pp | 68.0%-21.3pp | 72.2%-25.5pp |
| Annual return | 18.44% | 50.12%-31.7pp | 245.50%-227.1pp | 59.30%-40.9pp |
| Employer contribution / active EE | $0 | $1,200-100.0% | $2,586-100.0% | $2,234-100.0% |
| Participant deferral / active EE | $1,001 | $2,193-54.3% | $3,890-74.3% | $3,806-73.7% |
| Admin fee / account holder | $185 | $134+38.0% | $4,883-96.2% | $158+17.3% |