Filed June 2, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $40,190 |
CIRRUS WEALTH MANAGEMENT LLC2 years Service code 27 · EIN 47-2368024 | Advisory (Plan) | $22,492 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
Opinion is qualified - a specific issue limited the scope or accuracy of the audit.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $79,963 | $86,692-7.8% | $119,634-33.2% | $66,949+19.4% |
| Participation rate | 97.9% | 75.6%+22.4pp | 79.3%+18.7pp | 69.8%+28.1pp |
| Annual return | -17.17% | -8.00%-9.2pp | -14.98%-2.2pp | 1.57%-18.7pp |
| Employer contribution / active EE | $1,820 | $2,536-28.2% | $4,232-57.0% | $2,545-28.5% |
| Participant deferral / active EE | $4,395 | $4,360+0.8% | $5,601-21.5% | $4,239+3.7% |
| Admin fee / account holder | $365 | $755-51.7% | $10,329-96.5% | $594-38.6% |