Filed August 7, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: PUTNAM INVESTMENTS Service code 15 ONE POST OFFICE SQUARE · BOSTON, MA 02109 | Recordkeeping | $118,172 |
Service code 99 401 NORTH 31ST ST · BILLINGS, MT 59101 | Other Fees | $65,470 |
GOLDLEAF PARTNERS1 year Filed as: GOLDLEAF PARTNERS EMPLOYER SERVICES Service code 13 8009 34TH AVE S · MINNEAPOLIS, MN 55425 | Contract Administrator | $14,880 |
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.)
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 | $63,888 | $64,286-0.6% | $106,387-39.9% | $55,725+14.6% |
| Participation rate | 62.7% | 75.2%-12.5pp | 77.5%-14.8pp | 70.9%-8.2pp |
| Annual return | -1.62% | 0.84%-2.5pp | 0.25%-1.9pp | 244.93%-246.6pp |
| Employer contribution / active EE | $2,471 | $2,367+4.4% | $3,520-29.8% | $2,078+18.9% |
| Participant deferral / active EE | $5,070 | $4,158+22.0% | $5,421-6.5% | $3,356+51.1% |
| Admin fee / account holder | $303 | $102+196.1% | $7,510-96.0% | $115+163.0% |