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 | $175 |
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.
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 | $61,317 | $78,419-21.8% | $133,978-54.2% | $73,412-16.5% |
| Participation rate | 45.3% | 78.6%-33.3pp | 79.8%-34.5pp | 72.2%-26.9pp |
| Annual return | 19.10% | 33.35%-14.2pp | 45.10%-26.0pp | 59.30%-40.2pp |
| Employer contribution / active EE | $641 | $2,044-68.6% | $3,919-83.6% | $2,234-71.3% |
| Participant deferral / active EE | $1,355 | $3,925-65.5% | $5,047-73.1% | $3,806-64.4% |
| Admin fee / account holder | $1 | $161-99.5% | $8,930-100.0% | $158-99.5% |