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| Provider | Service type | Compensation |
|---|---|---|
1ST SOURCE BANK1 year Service code 15 100 NORTH MICHIGAN STREET · SOUTH BEND, IN 46601 | Recordkeeping | $42,989 |
Service code 13 · EIN 42-0127290 | Contract Administrator | $6,520 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $107,427 | $99,168+8.3% | $96,534+11.3% | $74,460+44.3% |
| Participation rate | 43.7% | 80.7%-37.0pp | 76.0%-32.3pp | 70.7%-27.0pp |
| Annual return | 17.85% | 22.40%-4.5pp | 25.88%-8.0pp | 34.38%-16.5pp |
| Employer contribution / active EE | $792 | $2,570-69.2% | $2,965-73.3% | $2,638-70.0% |
| Participant deferral / active EE | $3,221 | $4,936-34.7% | $4,851-33.6% | $4,530-28.9% |
| Admin fee / account holder | $309 | $225+37.3% | $8,253-96.3% | $348-11.3% |