Filed June 30, 2023
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 5-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.2 years Service code 15 · EIN 27-2037969 | Recordkeeping | $7,666 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,316 | $74,188-90.1% | $115,756-93.7% | $64,808-88.7% |
| Participation rate | 7.1% | 76.2%-69.1pp | 77.1%-70.0pp | 71.5%-64.4pp |
| Annual return | -5.70% | -11.81%+6.1pp | 143.14%-148.8pp | 32.82%-38.5pp |
| Employer contribution / active EE | $0 | $3,365-100.0% | $3,793-100.0% | $2,506-100.0% |
| Participant deferral / active EE | $279 | $5,294-94.7% | $6,254-95.5% | $4,310-93.5% |
| Admin fee / account holder | $174 | $148+17.4% | $8,124-97.9% | $188-7.3% |