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| Provider | Service type | Compensation |
|---|---|---|
MERRILL LYNCH PIERCE FENNER & SMITH10+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $38,959 |
BOYUM & BARENSCHEER PLLP4 years Filed as: BOYUM BARENSCHEER Service code 50 PO BOX 860725 · MINNEAPOLIS, MN 55486 | Direct Payment | $14,000 |
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.)
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $87,071 | $78,636+10.7% | $105,607-17.6% | $74,459+16.9% |
| Participation rate | 51.6% | 72.8%-21.1pp | 75.3%-23.6pp | 67.2%-15.6pp |
| Annual return | 12.27% | 15.96%-3.7pp | 116.11%-103.8pp | 1369.70%-1357.4pp |
| Employer contribution / active EE | $0 | $2,523-100.0% | $3,167-100.0% | $2,626-100.0% |
| Participant deferral / active EE | $2,111 | $4,322-51.1% | $5,011-57.9% | $4,350-51.5% |
| Admin fee / account holder | $436 | $2,220-80.3% | $10,958-96.0% | $1,945-77.6% |