Filed October 27, 2022 (most recent of 5 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: FIFTH THIRD BANK Service code 49 38 FOUNTAIN SQUARE PLAZA · CINCINNATI, OH 45263 | Other Services | $138,211 |
Filed as: RAYMOND JAMES FINANCIAL SVC ADV Service code 27 · EIN 59-2937883 | Advisory (Plan) | $14,997 |
Service code 13 · EIN 42-0127290 | Contract Administrator | $12,600 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $62,363 | $56,540+10.3% | $185,851-66.4% | $86,821-28.2% |
| Participation rate | 58.8% | 65.5%-6.7pp | 81.7%-22.9pp | 72.3%-13.5pp |
| Annual return | 12.70% | 118.20%-105.5pp | 122.11%-109.4pp | 97.94%-85.2pp |
| Employer contribution / active EE | $849 | $1,844-54.0% | $5,168-83.6% | $2,406-64.7% |
| Participant deferral / active EE | $2,340 | $2,555-8.4% | $5,569-58.0% | $4,132-43.4% |
| Admin fee / account holder | $385 | $150+157.5% | $16,245-97.6% | $170+127.2% |