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| Provider | Service type | Compensation |
|---|---|---|
FIRSTMERIT BANK2+ years Service code 10 · EIN 34-0220600 | Accounting | $40,527 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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).
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 | $1,921 | $80,211-97.6% | $74,184-97.4% | $63,975-97.0% |
| Participation rate | 21.2% | 84.2%-63.0pp | 76.6%-55.4pp | 71.1%-49.9pp |
| Annual return | 19.12% | 14.13%+5.0pp | 17.74%+1.4pp | 48.65%-29.5pp |
| Employer contribution / active EE | $0 | $2,553-100.0% | $2,370-100.0% | $2,182-100.0% |
| Participant deferral / active EE | $280 | $4,370-93.6% | $3,550-92.1% | $3,356-91.6% |
| Admin fee / account holder | $76 | $67+12.9% | $5,586-98.6% | $70+7.8% |