Filed December 19, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILLLYNCH Service code 26 · EIN 13-5674085 | Advisory (Participants) | $59,192 |
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786 | Loan Processing | $38,224 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $97,468 | $101,499-4.0% | $147,005-33.7% | $74,546+30.7% |
| Participation rate | 91.4% | 75.5%+15.9pp | 82.2%+9.3pp | 67.2%+24.2pp |
| Annual return | 12.00% | 8732.34%-8720.3pp | 418.76%-406.8pp | 1366.03%-1354.0pp |
| Employer contribution / active EE | $1,241 | $3,811-67.4% | $4,934-74.8% | $2,624-52.7% |
| Participant deferral / active EE | $6,873 | $7,304-5.9% | $8,070-14.8% | $4,347+58.1% |
| Admin fee / account holder | $342 | $1,748-80.4% | $13,006-97.4% | $1,944-82.4% |