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| Provider | Service type | Compensation |
|---|---|---|
FIRST MERCHANTS TRUST CO2+ years Filed as: FIRST MERCHANTS TRUST COMPANY Service code 15 200 E JACKSON ST · MUNCIE, IN 47305 | Recordkeeping | $11,253 |
WHITINGER & COMPANY LLC2+ years Service code 10 1100 W WHITE RIVER BLVD · MUNCIE, IN 47303 | Accounting | $9,600 |
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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $18,486 | $60,165-69.3% | $74,184-75.1% | $55,167-66.5% |
| Participation rate | 46.0% | 74.2%-28.2pp | 76.6%-30.7pp | 69.0%-23.0pp |
| Annual return | 5.94% | 10.00%-4.1pp | 17.74%-11.8pp | 169.23%-163.3pp |
| Employer contribution / active EE | $0 | $1,600-100.0% | $2,370-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $869 | $2,973-70.8% | $3,550-75.5% | $3,054-71.5% |
| Admin fee / account holder | $321 | $419-23.5% | $5,586-94.3% | $504-36.3% |