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| Provider | Service type | Compensation |
|---|---|---|
HUNTINGTON NATIONAL BANK1 year Filed as: THE HUNTINGTON NATIONAL BANK Service code 27 · EIN 31-0966785 | Advisory (Plan) | $13,602 |
Service code 15 · EIN 13-3689044 | Recordkeeping | $7,899 |
NEWPORT GROUP, INC.1 year Service code 15 · EIN 27-2037969 | Recordkeeping | $3,456 |
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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $45,046 | $30,555+47.4% | $80,741-44.2% | $86,813-48.1% |
| Participation rate | 12.1% | 37.2%-25.1pp | 54.2%-42.1pp | 72.3%-60.2pp |
| Annual return | 9.58% | 30.35%-20.8pp | 87.30%-77.7pp | 97.93%-88.3pp |
| Employer contribution / active EE | $272 | $472-42.4% | $1,160-76.6% | $2,406-88.7% |
| Participant deferral / active EE | $383 | $1,050-63.6% | $2,145-82.2% | $4,131-90.7% |
| Admin fee / account holder | $353 | $135+160.6% | $3,380-89.6% | $170+108.2% |