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| Provider | Service type | Compensation |
|---|---|---|
1ST SOURCE BANK1+ years Service code 15 100 NORTH MICHIGAN STREET · SOUTH BEND, IN 46601 | Recordkeeping | $40,269 |
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.)
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 | $114,061 | $52,678+116.5% | $75,784+50.5% | $59,633+91.3% |
| Participation rate | 68.9% | 67.2%+1.7pp | 75.8%-6.9pp | 68.7%+0.2pp |
| Annual return | -1.70% | 2.95%-4.7pp | 9.68%-11.4pp | 2041.45%-2043.1pp |
| Employer contribution / active EE | $1,442 | $2,193-34.3% | $3,323-56.6% | $2,203-34.6% |
| Participant deferral / active EE | $2,100 | $2,591-18.9% | $3,652-42.5% | $3,192-34.2% |
| Admin fee / account holder | $580 | $3,610-83.9% | $5,300-89.1% | $4,297-86.5% |