Filed July 21, 2023
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER2+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $80,483 |
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,148 | $58,758-75.9% | $70,014-79.8% | $63,975-77.9% |
| Participation rate | 48.7% | 77.5%-28.8pp | 71.8%-23.1pp | 71.1%-22.4pp |
| Annual return | 326.62% | 18.05%+308.6pp | 12.99%+313.6pp | 48.65%+278.0pp |
| Employer contribution / active EE | $618 | $1,973-68.7% | $2,338-73.6% | $2,182-71.7% |
| Participant deferral / active EE | $963 | $2,912-66.9% | $2,931-67.1% | $3,356-71.3% |
| Admin fee / account holder | $56 | $71-21.6% | $4,380-98.7% | $70-21.0% |