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| Provider | Service type | Compensation |
|---|---|---|
FIRST MERCHANTS TRUST CO10+ years Service code 37 · EIN 35-0508403 | Loan Processing | $39,758 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $37,661 | $79,223-52.5% | $102,460-63.2% | $74,478-49.4% |
| Participation rate | 39.6% | 74.8%-35.2pp | 76.5%-37.0pp | 67.2%-27.7pp |
| Annual return | 11.23% | 54.98%-43.7pp | 29.47%-18.2pp | 1370.56%-1359.3pp |
| Employer contribution / active EE | $983 | $2,363-58.4% | $3,025-67.5% | $2,626-62.6% |
| Participant deferral / active EE | $1,864 | $4,417-57.8% | $5,056-63.1% | $4,350-57.2% |
| Admin fee / account holder | $321 | $2,003-84.0% | $9,460-96.6% | $1,946-83.5% |