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| Provider | Service type | Compensation |
|---|---|---|
FIRST MERCHANTS TRUST CO4 years Filed as: FIRST MERCHANT PRIVATE WEALTH Service code 15 · EIN 35-0508403 | Recordkeeping | $4,253 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,989 | $50,812-74.4% | $155,602-91.7% | $77,692-83.3% |
| Participation rate | 30.9% | 63.1%-32.2pp | 78.2%-47.3pp | 70.6%-39.7pp |
| Annual return | 16.31% | 34.85%-18.5pp | 64.81%-48.5pp | 31.25%-14.9pp |
| Employer contribution / active EE | $309 | $1,989-84.5% | $4,675-93.4% | $2,726-88.7% |
| Participant deferral / active EE | $889 | $2,822-68.5% | $5,629-84.2% | $4,648-80.9% |
| Admin fee / account holder | $44 | $436-89.8% | $15,923-99.7% | $431-89.7% |