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| Provider | Service type | Compensation |
|---|---|---|
FIRSTMERIT BANK1+ years Service code 10 · EIN 34-0220600 | Accounting | $9,465 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $15,973 | $72,177-77.9% | $115,038-86.1% | $59,633-73.2% |
| Participation rate | 33.8% | 72.6%-38.8pp | 81.4%-47.6pp | 68.7%-34.9pp |
| Annual return | -1.93% | 12.02%-14.0pp | 26.14%-28.1pp | 2041.45%-2043.4pp |
| Employer contribution / active EE | $0 | $2,841-100.0% | $4,608-100.0% | $2,203-100.0% |
| Participant deferral / active EE | $1,016 | $4,783-78.8% | $6,026-83.1% | $3,192-68.2% |
| Admin fee / account holder | $220 | $4,927-95.5% | $8,175-97.3% | $4,297-94.9% |