Filed July 7, 2023
Total covered: 2 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: RAYMOND JAMES Service code 27 880 CARILLON PARKWAY · ST PETERSBURG, FL 33716 | Advisory (Plan) | $20,517 |
METRO BENEFITS, INC.2 years Service code 13 | Contract Administrator | $1,675 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $1,145 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $158 |
METRO BENEFITS, INC.2 years Filed as: METRO BENEFITS INC Service code 13 · EIN 25-1541083 8150 PERRY HWY · PITTSBURGH, PA 15237 | Contract Administrator | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $46,672 | $55,437-15.8% | $155,534-70.0% | $74,459-37.3% |
| Participation rate | 69.4% | 61.9%+7.5pp | 78.2%-8.8pp | 67.2%+2.2pp |
| Annual return | 14.65% | 269.58%-254.9pp | 64.92%-50.3pp | 1369.70%-1355.0pp |
| Employer contribution / active EE | $1,767 | $2,266-22.0% | $4,675-62.2% | $2,626-32.7% |
| Participant deferral / active EE | $3,165 | $2,837+11.6% | $5,630-43.8% | $4,350-27.2% |
| Admin fee / account holder | $339 | $1,742-80.5% | $15,900-97.9% | $1,945-82.6% |