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| Provider | Service type | Compensation |
|---|---|---|
CHEMICAL BANK1+ years Service code 15 · EIN 38-0415896 109 E FRONT STREET · TRAVERSE CITY, MI 49684 | Recordkeeping | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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 | $10,647 | $22,714-53.1% | $59,496-82.1% | $55,191-80.7% |
| Participation rate | 31.8% | 37.5%-5.7pp | 54.6%-22.8pp | 69.2%-37.4pp |
| Annual return | -1.85% | -44.01%+42.2pp | 182.05%-183.9pp | 10.78%-12.6pp |
| Employer contribution / active EE | $133 | $418-68.2% | $1,153-88.5% | $1,899-93.0% |
| Participant deferral / active EE | $678 | $843-19.6% | $1,829-63.0% | $3,046-77.8% |
| Admin fee / account holder | $54 | $83-35.3% | $2,232-97.6% | $91-40.6% |