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 | $73,532-17.8% | $178,540-66.1% | $74,459-18.8% |
| Participation rate | 58.9% | 66.6%-7.7pp | 77.1%-18.2pp | 67.2%-8.4pp |
| Annual return | 12.99% | 17.51%-4.5pp | 27.15%-14.2pp | 1369.70%-1356.7pp |
| Employer contribution / active EE | $1,148 | $2,221-48.3% | $3,953-71.0% | $2,626-56.3% |
| Participant deferral / active EE | $3,805 | $4,519-15.8% | $6,281-39.4% | $4,350-12.5% |
| Admin fee / account holder | $352 | $1,813-80.6% | $10,424-96.6% | $1,945-81.9% |