Filed January 5, 2024 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
JOHNSON BANK3+ years Service code 15 · EIN 39-1141446 | Recordkeeping | $22,401 |
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.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $53,722 | $51,466+4.4% | $78,778-31.8% | $62,293-13.8% |
| Participation rate | 50.9% | 59.8%-8.9pp | 69.2%-18.3pp | 69.5%-18.6pp |
| Annual return | 18.62% | 19.96%-1.3pp | 35.62%-17.0pp | 28.90%-10.3pp |
| Employer contribution / active EE | $1,045 | $827+26.3% | $1,986-47.4% | $2,042-48.9% |
| Participant deferral / active EE | $1,822 | $2,147-15.1% | $2,958-38.4% | $3,169-42.5% |
| Admin fee / account holder | $320 | $489-34.6% | $5,134-93.8% | $479-33.2% |