Filed April 24, 2019
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.7 years Service code 12 · EIN 27-2037969 | Recordkeeping fees; Recordkeeping and... | $22,273 |
BLUEFIN FINANCIAL5 years Service code 27 212 W. ROUTE 38 · MOORESTOWN, NJ 08057 | Advisory (Plan) | $11,887 |
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 | $30,036 | $34,634-13.3% | $77,096-61.0% | $64,819-53.7% |
| Participation rate | 34.4% | 49.8%-15.5pp | 67.9%-33.6pp | 71.5%-37.1pp |
| Annual return | -15.44% | -5.31%-10.1pp | 42.35%-57.8pp | 32.84%-48.3pp |
| Employer contribution / active EE | $0 | $1,385-100.0% | $2,814-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $956 | $2,553-62.6% | $4,429-78.4% | $4,311-77.8% |
| Admin fee / account holder | $248 | $178+38.8% | $5,428-95.4% | $188+31.8% |