Filed June 19, 2023
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| Provider | Service type | Compensation |
|---|---|---|
DUBUQUE BANK & TRUST COMPANY2+ years Service code 15 · EIN 42-0223620 | Recordkeeping | $114,183 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $74,122 | $63,905+16.0% | $74,184-0.1% | $57,658+28.6% |
| Participation rate | 84.3% | 79.8%+4.6pp | 76.6%+7.7pp | 70.2%+14.1pp |
| Annual return | 7.81% | 60.60%-52.8pp | 17.74%-9.9pp | 5.13%+2.7pp |
| Employer contribution / active EE | $1,456 | $1,840-20.9% | $2,370-38.6% | $1,974-26.3% |
| Participant deferral / active EE | $2,464 | $3,448-28.5% | $3,550-30.6% | $3,061-19.5% |
| Admin fee / account holder | $426 | $91+367.9% | $5,586-92.4% | $95+350.8% |