Filed August 21, 2019
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $226,800 |
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 | $42,139 | $118,464-64.4% | $96,564-56.4% | $103,657-59.3% |
| Participation rate | 62.8% | 89.0%-26.2pp | 76.0%-13.2pp | 73.4%-10.6pp |
| Annual return | 29.38% | 18.79%+10.6pp | 25.89%+3.5pp | 33.13%-3.8pp |
| Employer contribution / active EE | $1,017 | $4,210-75.8% | $2,967-65.7% | $3,216-68.4% |
| Participant deferral / active EE | $4,937 | $7,277-32.2% | $4,852+1.8% | $5,218-5.4% |
| Admin fee / account holder | $46 | $81-43.3% | $8,256-99.4% | $114-59.7% |