Filed October 23, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $46,381 |
Service code 27 · EIN 46-0615386 | Advisory (Plan) | $18,531 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $98,309 | $73,638+33.5% | $95,964+2.4% | $73,497+33.8% |
| Participation rate | 97.1% | 76.2%+20.9pp | 77.1%+20.0pp | 70.7%+26.4pp |
| Annual return | 12.55% | 16.78%-4.2pp | 91.64%-79.1pp | 28.51%-16.0pp |
| Employer contribution / active EE | $3,146 | $1,863+68.8% | $2,541+23.8% | $2,270+38.6% |
| Participant deferral / active EE | $4,545 | $3,617+25.7% | $4,167+9.1% | $3,740+21.5% |
| Admin fee / account holder | $407 | $482-15.6% | $6,797-94.0% | $513-20.7% |