Filed January 3, 2025
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 | Recordkeeping | $1,794 |
VALMARK ADVISERS INC7 years Filed as: VALMARK ADVISERS, INC. Service code 26 · EIN 31-1509466 | Advisory (Participants) | $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.)
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).
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 | $60,451 | $73,459-17.7% | $178,528-66.1% | $74,429-18.8% |
| Participation rate | 58.9% | 66.5%-7.7pp | 77.1%-18.2pp | 67.2%-8.3pp |
| Annual return | 12.99% | 17.50%-4.5pp | 27.11%-14.1pp | 1368.38%-1355.4pp |
| Employer contribution / active EE | $1,148 | $2,219-48.3% | $3,950-70.9% | $2,625-56.3% |
| Participant deferral / active EE | $3,805 | $4,515-15.7% | $6,278-39.4% | $4,348-12.5% |
| Admin fee / account holder | $352 | $1,812-80.6% | $10,419-96.6% | $1,944-81.9% |