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| Provider | Service type | Compensation |
|---|---|---|
THE BENEFIT PRACTICE2 years Service code 13 · EIN 13-4144565 | Contract Administrator | $3,150 |
Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 26 · EIN 71-0294708 | Advisory (Participants) | $2,786 |
MORNINGSTAR2 years Service code 27 · EIN 36-3297908 | Advisory (Plan) | $61 |
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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $15,454 | $89,652-82.8% | $141,177-89.1% | $65,185-76.3% |
| Participation rate | 66.3% | 74.7%-8.4pp | 82.5%-16.1pp | 70.2%-3.9pp |
| Annual return | 23.88% | 32.79%-8.9pp | 71.40%-47.5pp | 29.38%-5.5pp |
| Employer contribution / active EE | $1,285 | $3,065-58.1% | $4,736-72.9% | $2,177-41.0% |
| Participant deferral / active EE | $1,785 | $5,691-68.6% | $6,710-73.4% | $3,514-49.2% |
| Admin fee / account holder | $57 | $569-90.0% | $10,263-99.4% | $847-93.3% |