Filed September 29, 2025
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| Provider | Service type | Compensation |
|---|---|---|
MACATAWA BANK1 year Service code 15 · EIN 38-3378283 | Recordkeeping | $83,232 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $47,217 | $241,450-80.4% | $103,378-54.3% | $199,874-76.4% |
| Participation rate | 30.9% | 78.4%-47.5pp | 74.5%-43.6pp | 72.0%-41.1pp |
| Annual return | 16.93% | 17.80%-0.9pp | 24.91%-8.0pp | 34.28%-17.4pp |
| Employer contribution / active EE | $4 | $4,250-99.9% | $3,870-99.9% | $3,036-99.9% |
| Participant deferral / active EE | $1,670 | $3,962-57.9% | $5,058-67.0% | $5,090-67.2% |
| Admin fee / account holder | $118 | $288-59.1% | $8,401-98.6% | $269-56.3% |