Filed September 30, 2022
Total covered: 10 employees
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| Provider | Service type | Compensation |
|---|---|---|
LINCOLN NATIONAL CORPORATION4 years Service code 13 · EIN 35-0472300 | Contract Administrator | $98,891 |
Service code 14 · EIN 11-3271022 | Plan Administrator | $10,476 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $32,361 | $104,317-69.0% | $159,436-79.7% | $86,799-62.7% |
| Participation rate | 66.1% | 77.7%-11.6pp | 82.8%-16.7pp | 72.3%-6.2pp |
| Annual return | 19.72% | 26.32%-6.6pp | 263.57%-243.8pp | 97.91%-78.2pp |
| Employer contribution / active EE | $605 | $3,451-82.5% | $4,829-87.5% | $2,405-74.8% |
| Participant deferral / active EE | $6,053 | $6,837-11.5% | $7,352-17.7% | $4,131+46.5% |
| Admin fee / account holder | $172 | $172-0.2% | $10,799-98.4% | $170+1.4% |