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| Provider | Service type | Compensation |
|---|---|---|
FIRSTMERIT BANK2+ years Service code 10 · EIN 34-0220600 | Accounting | $41,418 |
FIRSTMERIT BANK2+ years Filed as: FIRSTMERIT BANK, N.A. Service code 59 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $100,956 | $60,165+67.8% | $74,184+36.1% | $55,167+83.0% |
| Participation rate | 56.8% | 74.2%-17.3pp | 76.6%-19.8pp | 69.0%-12.2pp |
| Annual return | 6.09% | 10.00%-3.9pp | 17.74%-11.6pp | 169.23%-163.1pp |
| Employer contribution / active EE | $0 | $1,600-100.0% | $2,370-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $1,617 | $2,973-45.6% | $3,550-54.4% | $3,054-47.1% |
| Admin fee / account holder | $373 | $419-11.2% | $5,586-93.3% | $504-26.1% |