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| Provider | Service type | Compensation |
|---|---|---|
1ST SOURCE BANK2+ years Service code 15 100 NORTH MICHIGAN STREET · SOUTH BEND, IN 46601 | Recordkeeping | $6,919 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $43,497 | $56,640-23.2% | $78,002-44.2% | $55,167-21.2% |
| Participation rate | 27.0% | 73.3%-46.3pp | 75.5%-48.5pp | 69.0%-41.9pp |
| Annual return | 12.61% | 2868.48%-2855.9pp | 425.99%-413.4pp | 169.23%-156.6pp |
| Employer contribution / active EE | $709 | $1,724-58.8% | $2,470-71.3% | $1,963-63.9% |
| Participant deferral / active EE | $1,018 | $2,778-63.4% | $3,497-70.9% | $3,054-66.7% |
| Admin fee / account holder | $161 | $467-65.5% | $5,481-97.1% | $504-68.1% |