Filed August 7, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 99 401 NORTH 31ST ST · BILLINGS, MT 59101 | Other Fees | $69,985 |
Filed as: PUTNAM INVESTMENTS Service code 15 ONE POST OFFICE SQUARE · BOSTON, MA 02109 | Recordkeeping | $46,681 |
GOLDLEAF PARTNERS2 years Filed as: GOLDLEAF PARTNERS EMPLOYER SERVICES Service code 13 8009 34TH AVE S · MINNEAPOLIS, MN 55425 | Contract Administrator | $16,914 |
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 | $70,430 | $75,419-6.6% | $392,568-82.1% | $67,582+4.2% |
| Participation rate | 39.1% | 74.8%-35.7pp | 78.1%-38.9pp | 71.3%-32.2pp |
| Annual return | 28.70% | 36.70%-8.0pp | 24.42%+4.3pp | 378.57%-349.9pp |
| Employer contribution / active EE | $1,629 | $2,636-38.2% | $3,783-57.0% | $2,148-24.2% |
| Participant deferral / active EE | $2,874 | $4,347-33.9% | $5,985-52.0% | $3,539-18.8% |
| Admin fee / account holder | $439 | $114+285.5% | $6,260-93.0% | $142+208.3% |