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| Provider | Service type | Compensation |
|---|---|---|
LATITUDE SERVICE COMPANY INC2 years Filed as: LATITUDE SERVICE COMPANY, INC. Service code 13 · EIN 82-1371994 | Contract Administrator | $7,375 |
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.
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $11,064 | $39,948-72.3% | $89,435-87.6% | $73,412-84.9% |
| Participation rate | 25.7% | 50.4%-24.8pp | 68.0%-42.3pp | 72.2%-46.5pp |
| Annual return | 16.14% | 50.12%-34.0pp | 245.55%-229.4pp | 59.30%-43.2pp |
| Employer contribution / active EE | $203 | $1,200-83.1% | $2,587-92.2% | $2,234-90.9% |
| Participant deferral / active EE | $252 | $2,193-88.5% | $3,890-93.5% | $3,806-93.4% |
| Admin fee / account holder | $89 | $134-33.8% | $4,884-98.2% | $158-43.7% |