Filed November 13, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: RAYMOND JAMES FINANCIAL SERVICES IN Service code 27 · EIN 59-1531281 | Advisory (Plan) | $14,303 |
Service code 15 · EIN 13-3689044 | Recordkeeping | $5,203 |
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.
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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $23,402 | $84,487-72.3% | $125,339-81.3% | $66,914-65.0% |
| Participation rate | 56.6% | 76.4%-19.8pp | 82.4%-25.7pp | 69.8%-13.2pp |
| Annual return | -16.42% | -8.39%-8.0pp | 572.05%-588.5pp | 1.58%-18.0pp |
| Employer contribution / active EE | $0 | $3,553-100.0% | $4,814-100.0% | $2,544-100.0% |
| Participant deferral / active EE | $6,940 | $6,781+2.3% | $7,446-6.8% | $4,237+63.8% |
| Admin fee / account holder | $172 | $685-74.9% | $10,010-98.3% | $593-71.0% |