Filed September 16, 2016
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH CONSULTING SERVICES Service code 70 · EIN 94-1687665 | Consulting Fees | $75,000 |
PLANTE & MORAN, PLLC2+ years Filed as: PLANTE MORAN Service code 10 2601 CAMBRIDGE COURT · AUBURN HILLS, MI 48326 | Accounting | $15,600 |
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $3,150 |
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.
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 | $63,803 | $80,211-20.5% | $74,184-14.0% | $63,975-0.3% |
| Participation rate | 65.7% | 84.2%-18.4pp | 76.6%-10.9pp | 71.1%-5.4pp |
| Annual return | 9.80% | 14.13%-4.3pp | 17.74%-7.9pp | 48.65%-38.8pp |
| Employer contribution / active EE | $716 | $2,553-72.0% | $2,370-69.8% | $2,182-67.2% |
| Participant deferral / active EE | $5,185 | $4,370+18.6% | $3,550+46.1% | $3,356+54.5% |
| Admin fee / account holder | $83 | $67+23.3% | $5,586-98.5% | $70+17.6% |