Filed January 15, 2019
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| Provider | Service type | Compensation |
|---|---|---|
SHEPARD SCHWARTZ & HARRIS LLP4+ years Service code 10 · EIN 36-1220454 | Accounting | $19,300 |
CHEMICAL BANK1 year Service code 15 · EIN 38-0415896 | Recordkeeping | $18,540 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $14,697 | $28,109-47.7% | $71,086-79.3% | $56,287-73.9% |
| Participation rate | 35.1% | 40.4%-5.3pp | 54.7%-19.6pp | 69.9%-34.8pp |
| Annual return | -6.15% | -615.05%+608.9pp | 650.59%-656.7pp | -9.96%+3.8pp |
| Employer contribution / active EE | $119 | $558-78.6% | $1,088-89.0% | $2,111-94.3% |
| Participant deferral / active EE | $607 | $1,116-45.6% | $1,874-67.6% | $3,350-81.9% |
| Admin fee / account holder | $346 | $585-40.9% | $3,082-88.8% | $521-33.7% |