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| Provider | Service type | Compensation |
|---|---|---|
1ST SOURCE BANK2 years Service code 15 100 NORTH MICHIGAN STREET · SOUTH BEND, IN 46601 | Recordkeeping | $15,842 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 | $27,403 | $64,909-57.8% | $82,312-66.7% | $62,293-56.0% |
| Participation rate | 60.5% | 74.9%-14.3pp | 76.9%-16.4pp | 69.5%-9.0pp |
| Annual return | 18.45% | 21.18%-2.7pp | 25.88%-7.4pp | 28.90%-10.4pp |
| Employer contribution / active EE | $320 | $1,676-80.9% | $2,428-86.8% | $2,042-84.3% |
| Participant deferral / active EE | $1,611 | $3,103-48.1% | $3,706-56.5% | $3,169-49.2% |
| Admin fee / account holder | $104 | $440-76.3% | $5,608-98.1% | $479-78.3% |