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| Provider | Service type | Compensation |
|---|---|---|
HUNTINGTON NATIONAL BANK1 year Service code 26 · EIN 31-0966785 | Advisory (Participants) | $3,067 |
Service code 15 · EIN 01-0233346 | Recordkeeping | $454 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $40,313 | $65,376-38.3% | $87,100-53.7% | $65,185-38.2% |
| Participation rate | 62.4% | 75.3%-12.9pp | 76.9%-14.5pp | 70.2%-7.8pp |
| Annual return | 24.17% | 31.27%-7.1pp | 28.19%-4.0pp | 29.38%-5.2pp |
| Employer contribution / active EE | $267 | $1,822-85.4% | $2,521-89.4% | $2,177-87.7% |
| Participant deferral / active EE | $2,247 | $3,388-33.7% | $4,049-44.5% | $3,514-36.1% |
| Admin fee / account holder | $155 | $520-70.2% | $7,497-97.9% | $847-81.7% |