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| Provider | Service type | Compensation |
|---|---|---|
PEOPLES BANK1 year Service code 15 · EIN 31-1278433 | Recordkeeping | $14,388 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $5,998 | $60,795-90.1% | $69,483-91.4% | $65,186-90.8% |
| Participation rate | 39.2% | 74.9%-35.6pp | 74.6%-35.4pp | 70.2%-31.0pp |
| Annual return | 13.74% | 17.46%-3.7pp | 28.99%-15.3pp | 29.39%-15.6pp |
| Employer contribution / active EE | $0 | $2,452-100.0% | $2,780-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $472 | $3,162-85.1% | $3,537-86.6% | $3,514-86.6% |
| Admin fee / account holder | $230 | $314-26.6% | $3,841-94.0% | $847-72.8% |