Filed September 30, 2022
Total covered: 10 employees
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| Provider | Service type | Compensation |
|---|---|---|
LINCOLN NATIONAL CORPORATION3 years Service code 13 · EIN 35-0472300 | Contract Administrator | $65,338 |
Service code 14 · EIN 11-3271022 | Plan Administrator | $7,686 |
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).
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 | $28,872 | $100,801-71.4% | $149,745-80.7% | $73,412-60.7% |
| Participation rate | 66.5% | 77.7%-11.2pp | 82.5%-16.0pp | 72.2%-5.7pp |
| Annual return | 21.61% | 265.34%-243.7pp | 276.72%-255.1pp | 59.30%-37.7pp |
| Employer contribution / active EE | $527 | $3,312-84.1% | $4,646-88.7% | $2,234-76.4% |
| Participant deferral / active EE | $5,267 | $6,404-17.8% | $6,843-23.0% | $3,806+38.4% |
| Admin fee / account holder | $136 | $181-24.6% | $9,312-98.5% | $158-13.7% |