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| Provider | Service type | Compensation |
|---|---|---|
HUNTINGTON NATIONAL BANK2 years Service code 15 · EIN 31-0966785 | Recordkeeping | $21,265 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $80,528 | $64,719+24.4% | $112,249-28.3% | $68,486+17.6% |
| Participation rate | 55.4% | 67.2%-11.7pp | 75.1%-19.6pp | 67.9%-12.5pp |
| Annual return | -17.33% | -11.40%-5.9pp | 27.48%-44.8pp | -7.85%-9.5pp |
| Employer contribution / active EE | $848 | $2,747-69.1% | $3,636-76.7% | $2,597-67.4% |
| Participant deferral / active EE | $2,888 | $3,565-19.0% | $4,729-38.9% | $4,028-28.3% |
| Admin fee / account holder | $387 | $5,232-92.6% | $6,412-94.0% | $5,404-92.8% |