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 | $101,591-4.1% | $147,096-33.7% | $74,429+31.0% |
| Participation rate | 91.4% | 75.5%+15.9pp | 82.2%+9.2pp | 67.2%+24.2pp |
| Annual return | 12.00% | 8746.45%-8734.5pp | 419.75%-407.7pp | 1368.38%-1356.4pp |
| Employer contribution / active EE | $1,241 | $3,813-67.4% | $4,936-74.9% | $2,625-52.7% |
| Participant deferral / active EE | $6,873 | $7,302-5.9% | $8,071-14.8% | $4,348+58.1% |
| Admin fee / account holder | $342 | $1,750-80.5% | $13,005-97.4% | $1,944-82.4% |