Filed August 19, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 06-1050034 | Recordkeeping | $500 |
Filed as: THE PRUDENTIAL INSURANCE COMPANY OF Service code 15 | Recordkeeping | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $83,497 | $65,118+28.2% | $76,766+8.8% | $55,725+49.8% |
| Participation rate | 6.8% | 79.6%-72.8pp | 77.0%-70.2pp | 70.9%-64.1pp |
| Annual return | 13.18% | -1.27%+14.5pp | 2.43%+10.8pp | 244.93%-231.7pp |
| Employer contribution / active EE | $0 | $1,941-100.0% | $2,485-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $328 | $3,688-91.1% | $3,851-91.5% | $3,356-90.2% |
| Admin fee / account holder | $11 | $116-90.4% | $6,675-99.8% | $115-90.3% |