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| Provider | Service type | Compensation |
|---|---|---|
OLD NATIONAL TRUST COMPANY2 years Filed as: OLD NATIONAL TRUST Service code 25 ONE MAIN STREET · EVANSVILLE, IN 47708 | Directed Trustee | $16,808 |
Filed as: BENEFIT PLANS ADMIN SVCS Service code 15 · EIN 16-1503696 | Recordkeeping | $15,357 |
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.
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).
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 | $100,257 | $55,122+81.9% | $104,625-4.2% | $73,493+36.4% |
| Participation rate | 23.3% | 67.7%-44.4pp | 74.1%-50.8pp | 70.7%-47.4pp |
| Annual return | 14.65% | 24.77%-10.1pp | 340.60%-325.9pp | 28.51%-13.9pp |
| Employer contribution / active EE | $572 | $1,464-61.0% | $2,681-78.7% | $2,270-74.8% |
| Participant deferral / active EE | $1,277 | $2,919-56.2% | $3,738-65.8% | $3,740-65.8% |
| Admin fee / account holder | $643 | $423+52.2% | $6,465-90.0% | $513+25.4% |