Filed March 5, 2025
Total covered: 34 employees
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.2 years Service code 12 · EIN 27-2037969 | Claims processing; Recordkeeping fees... | $26,210 |
Filed as: SEQUOIA FINANCIAL ADVISORS, LLC Service code 27 3500 EMBASSY PARKWAY · AKRON, OH 44333 | Advisory (Plan) | $3,838 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $26,968 | $46,100-41.5% | $86,590-68.9% | $69,631-61.3% |
| Participation rate | 55.1% | 67.2%-12.1pp | 73.5%-18.5pp | 70.7%-15.6pp |
| Annual return | 17.21% | 21.02%-3.8pp | 964.84%-947.6pp | 27571.02%-27553.8pp |
| Employer contribution / active EE | $1,238 | $1,850-33.1% | $2,839-56.4% | $2,032-39.1% |
| Participant deferral / active EE | $1,920 | $2,432-21.1% | $3,609-46.8% | $3,224-40.4% |
| Admin fee / account holder | $159 | $94+69.7% | $4,906-96.8% | $110+44.1% |