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| Provider | Service type | Compensation |
|---|---|---|
BB&T4 years Filed as: BB&T INSTITUTIONAL SERVICES Service code 15 · EIN 56-0939887 | Recordkeeping | $9,876 |
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.
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 | $4,558 | $89,652-94.9% | $141,191-96.8% | $65,185-93.0% |
| Participation rate | 61.6% | 74.7%-13.1pp | 82.5%-20.8pp | 70.2%-8.6pp |
| Annual return | 24.06% | 32.79%-8.7pp | 71.41%-47.3pp | 29.38%-5.3pp |
| Employer contribution / active EE | $0 | $3,065-100.0% | $4,736-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $1,940 | $5,691-65.9% | $6,710-71.1% | $3,514-44.8% |
| Admin fee / account holder | $52 | $569-90.9% | $10,264-99.5% | $847-93.9% |