Filed September 22, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $250 |
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.
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 | $29,050 | $107,378-72.9% | $108,582-73.2% | $57,658-49.6% |
| Participation rate | 55.5% | 77.1%-21.6pp | 79.6%-24.1pp | 70.2%-14.8pp |
| Annual return | 6.70% | 12.80%-6.1pp | -51.70%+58.4pp | 5.13%+1.6pp |
| Employer contribution / active EE | $706 | $1,782-60.4% | $3,758-81.2% | $1,974-64.2% |
| Participant deferral / active EE | $1,460 | $3,221-54.7% | $4,311-66.1% | $3,061-52.3% |
| Admin fee / account holder | $1 | $108-99.3% | $7,645-100.0% | $95-99.2% |