Filed December 29, 2021
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| Provider | Service type | Compensation |
|---|---|---|
RBC WEALTH MANAGEMENT1 year Service code 15 · EIN 41-1416330 | Recordkeeping | $10,072 |
ADP BROKER-DEALER2+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $3,041 |
ADP BROKER-DEALER2+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $23,560 | $80,177-70.6% | $123,894-81.0% | $57,658-59.1% |
| Participation rate | 23.7% | 74.4%-50.8pp | 81.4%-57.7pp | 70.2%-46.5pp |
| Annual return | 181.36% | 17.90%+163.5pp | 47.52%+133.8pp | 5.13%+176.2pp |
| Employer contribution / active EE | $122 | $2,913-95.8% | $4,617-97.4% | $1,974-93.8% |
| Participant deferral / active EE | $2,126 | $5,130-58.6% | $5,984-64.5% | $3,061-30.5% |
| Admin fee / account holder | $79 | $106-25.6% | $8,357-99.1% | $95-16.3% |