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| Provider | Service type | Compensation |
|---|---|---|
1ST SOURCE BANK5+ years Service code 15 100 NORTH MICHIGAN STREET · SOUTH BEND, IN 46601 | Recordkeeping | $16,177 |
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 | $40,788 | $86,341-52.8% | $125,192-67.4% | $65,185-37.4% |
| Participation rate | 31.4% | 75.3%-43.9pp | 79.8%-48.4pp | 70.2%-38.8pp |
| Annual return | 20.83% | 27.44%-6.6pp | 43.79%-23.0pp | 29.38%-8.6pp |
| Employer contribution / active EE | $760 | $2,040-62.7% | $3,866-80.3% | $2,177-65.1% |
| Participant deferral / active EE | $1,198 | $3,538-66.1% | $4,937-75.7% | $3,514-65.9% |
| Admin fee / account holder | $210 | $609-65.5% | $9,704-97.8% | $847-75.2% |