Filed July 21, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER4+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $110,854 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $23,976 | $77,559-69.1% | $68,612-65.1% | $75,289-68.2% |
| Participation rate | 40.2% | 78.3%-38.1pp | 72.2%-32.1pp | 72.4%-32.2pp |
| Annual return | 22.80% | -1.01%+23.8pp | -4.63%+27.4pp | -0.04%+22.8pp |
| Employer contribution / active EE | $832 | $1,993-58.3% | $2,625-68.3% | $2,405-65.4% |
| Participant deferral / active EE | $1,382 | $3,128-55.8% | $3,311-58.3% | $3,739-63.0% |
| Admin fee / account holder | $57 | $90-36.5% | $5,131-98.9% | $102-43.9% |