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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.1+ years Filed as: NEWPORT RETIREMENT SERVICES, INC Service code 12 · EIN 62-1868111 | Direct payment from the plan; Recordk... | $45,523 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $36,382 | $54,281-33.0% | $60,547-39.9% | $59,188-38.5% |
| Participation rate | 20.7% | 66.8%-46.1pp | 68.0%-47.3pp | 69.4%-48.7pp |
| Annual return | -2.60% | 1.74%-4.3pp | 335.64%-338.2pp | 5.51%-8.1pp |
| Employer contribution / active EE | $257 | $2,031-87.3% | $2,419-89.4% | $2,098-87.8% |
| Participant deferral / active EE | $652 | $2,789-76.6% | $3,328-80.4% | $3,265-80.0% |
| Admin fee / account holder | $30 | $64-52.8% | $4,536-99.3% | $92-67.0% |