Filed August 21, 2019
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $232,453 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $33,221 | $106,087-68.7% | $86,717-61.7% | $78,104-57.5% |
| Participation rate | 54.5% | 89.6%-35.1pp | 76.6%-22.1pp | 74.5%-20.0pp |
| Annual return | -16.60% | -14.87%-1.7pp | 35.97%-52.6pp | 10.90%-27.5pp |
| Employer contribution / active EE | $804 | $4,110-80.4% | $2,837-71.7% | $3,128-74.3% |
| Participant deferral / active EE | $3,895 | $6,851-43.1% | $4,657-16.4% | $5,089-23.5% |
| Admin fee / account holder | $55 | $81-32.7% | $7,494-99.3% | $79-30.8% |