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| Provider | Service type | Compensation |
|---|---|---|
FIRST MERCHANTS TRUST CO6+ years Service code 37 · EIN 35-0508403 | Loan Processing | $29,806 |
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.
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 | $20,336 | $79,519-74.4% | $95,964-78.8% | $73,412-72.3% |
| Participation rate | 49.0% | 81.2%-32.2pp | 77.1%-28.1pp | 72.2%-23.2pp |
| Annual return | 15.55% | 19.20%-3.6pp | 91.64%-76.1pp | 59.30%-43.7pp |
| Employer contribution / active EE | $797 | $2,048-61.1% | $2,541-68.6% | $2,234-64.3% |
| Participant deferral / active EE | $1,226 | $4,138-70.4% | $4,167-70.6% | $3,806-67.8% |
| Admin fee / account holder | $171 | $184-7.1% | $6,797-97.5% | $158+8.5% |