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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE2+ years Filed as: NATIONWIDE LIFE INSURANCE CO. Service code 15 · EIN 31-4156830 | Recordkeeping | $73,504 |
JOHN R WATERS & COMPANY2+ years Service code 10 225W WASHINGTON ST, STE 1120 · CHICAGO, IL 60606 | Accounting | $7,500 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $31,700 | $37,044-14.4% | $71,796-55.8% | $57,658-45.0% |
| Participation rate | 28.2% | 61.1%-32.9pp | 69.1%-40.9pp | 70.2%-42.0pp |
| Annual return | 5.79% | 12.64%-6.8pp | 78.04%-72.2pp | 5.13%+0.7pp |
| Employer contribution / active EE | $38 | $720-94.7% | $1,924-98.0% | $1,974-98.1% |
| Participant deferral / active EE | $1,535 | $1,974-22.2% | $2,794-45.1% | $3,061-49.8% |
| Admin fee / account holder | $375 | $101+271.5% | $4,815-92.2% | $95+296.7% |