Filed May 17, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 60 · EIN 04-2647786 | Sub-TA Fees | $19,759 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Form 5500 reported that benefits due were not provided when due.
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 | $34,428 | $46,332-25.7% | $143,799-76.1% | $64,819-46.9% |
| Participation rate | 44.0% | 64.2%-20.3pp | 80.3%-36.4pp | 71.5%-27.5pp |
| Annual return | -16.06% | -10.05%-6.0pp | -0.04%-16.0pp | 32.84%-48.9pp |
| Employer contribution / active EE | $675 | $1,911-64.7% | $4,952-86.4% | $2,507-73.1% |
| Participant deferral / active EE | $2,174 | $2,647-17.9% | $5,638-61.4% | $4,311-49.6% |
| Admin fee / account holder | $46 | $154-70.2% | $14,677-99.7% | $188-75.6% |