Filed April 15, 2022
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER2+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $17,975 |
ADP BROKER-DEALER2+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO ADVISORS Service code 49 146 MONROE CENTER SUITE 5301 · GRAND RAPIDS, MI 49503 | Other Services | $0 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $7,928 | $42,582-81.4% | $171,082-95.4% | $57,658-86.2% |
| Participation rate | 85.0% | 63.9%+21.0pp | 76.7%+8.3pp | 70.2%+14.7pp |
| Annual return | 11.70% | 308.67%-297.0pp | 32.56%-20.9pp | 5.13%+6.6pp |
| Employer contribution / active EE | $0 | $1,306-100.0% | $4,002-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $2,935 | $2,933+0.1% | $4,797-38.8% | $3,061-4.1% |
| Admin fee / account holder | $34 | $82-58.7% | $8,520-99.6% | $95-64.0% |