Filed July 7, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $18,658 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $34,505 | $38,365-10.1% | $84,628-59.2% | $65,185-47.1% |
| Participation rate | 27.3% | 55.7%-28.4pp | 68.2%-41.0pp | 70.2%-42.9pp |
| Annual return | 20.61% | 32.00%-11.4pp | 258.80%-238.2pp | 29.38%-8.8pp |
| Employer contribution / active EE | $131 | $1,258-89.6% | $2,653-95.1% | $2,177-94.0% |
| Participant deferral / active EE | $1,260 | $2,278-44.7% | $3,900-67.7% | $3,514-64.1% |
| Admin fee / account holder | $478 | $451+6.0% | $4,914-90.3% | $847-43.5% |