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| Provider | Service type | Compensation |
|---|---|---|
CHEMICAL BANK4+ years Filed as: CHEMICAL BANK WEALTH MANAGEMENT Service code 21 235 E MAIN STREET · MIDLAND, MI 486412049 | Bank Trustee | $48,284 |
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.)
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 | $63,157 | $55,449+13.9% | $83,830-24.7% | $56,287+12.2% |
| Participation rate | 60.5% | 68.0%-7.5pp | 76.1%-15.6pp | 69.9%-9.3pp |
| Annual return | -6.69% | -1.38%-5.3pp | 850.97%-857.7pp | -9.96%+3.3pp |
| Employer contribution / active EE | $1,305 | $2,430-46.3% | $3,631-64.1% | $2,111-38.2% |
| Participant deferral / active EE | $3,117 | $2,935+6.2% | $4,082-23.6% | $3,350-6.9% |
| Admin fee / account holder | $325 | $656-50.4% | $5,479-94.1% | $521-37.6% |