Filed April 19, 2023
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| Provider | Service type | Compensation |
|---|---|---|
FIRST CLEARING LLC2+ years Service code 55 · EIN 23-2384840 | Other Commissions | $12,337 |
Service code 37 · EIN 04-2647786 | Loan Processing | $3,163 |
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).
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 | $53,182 | $36,694+44.9% | $40,145,923-99.9% | $55,167-3.6% |
| Participation rate | 70.8% | 57.2%+13.6pp | 68.4%+2.3pp | 69.0%+1.8pp |
| Annual return | 8.40% | 10.16%-1.8pp | 5.24%+3.2pp | 169.23%-160.8pp |
| Employer contribution / active EE | $0 | $1,135-100.0% | $1,844-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $3,225 | $1,679+92.1% | $2,591+24.5% | $3,054+5.6% |
| Admin fee / account holder | $19 | $175-89.2% | $2,903-99.3% | $504-96.2% |