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| Provider | Service type | Compensation |
|---|---|---|
Filed as: PRUDENTIAL RETIREMENT INS & ANNUITY Service code 13 · EIN 06-1050034 | Contract Administrator | $113,077 |
SUMMIT FINANCIAL CORPORATION3+ years Service code 13 · EIN 04-3222046 700 DISTRICT AVENUE · BURLINGTON, MA 01803 | Contract Administrator | $55,964 |
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.
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 | $43,287 | $68,544-36.8% | $115,752-62.6% | $69,631-37.8% |
| Participation rate | 55.0% | 74.0%-19.0pp | 77.8%-22.8pp | 70.7%-15.7pp |
| Annual return | 15.60% | 20.97%-5.4pp | 19.41%-3.8pp | 27571.02%-27555.4pp |
| Employer contribution / active EE | $98 | $2,400-95.9% | $3,492-97.2% | $2,032-95.2% |
| Participant deferral / active EE | $2,742 | $3,887-29.5% | $5,204-47.3% | $3,224-14.9% |
| Admin fee / account holder | $296 | $90+228.0% | $6,278-95.3% | $110+168.3% |