Filed February 20, 2020
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| Provider | Service type | Compensation |
|---|---|---|
WOODBURY FINANCIAL SERVICES2 years Filed as: WOODBURY FINANCIAL SERVICES INC Service code 55 · EIN 41-0944586 | Other Commissions | $13,440 |
HGK2 years Filed as: HGK, LTD Service code 10 · EIN 41-1340072 | Accounting | $6,000 |
Service code 37 · EIN 04-2647786 | Loan Processing | $744 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $69,526 | $69,383+0.2% | $101,275-31.3% | $73,497-5.4% |
| Participation rate | 65.9% | 68.4%-2.5pp | 75.8%-9.9pp | 70.7%-4.8pp |
| Annual return | 15.20% | 18.46%-3.3pp | 46.48%-31.3pp | 28.51%-13.3pp |
| Employer contribution / active EE | $1,263 | $2,628-52.0% | $3,660-65.5% | $2,270-44.4% |
| Participant deferral / active EE | $4,142 | $3,301+25.5% | $4,371-5.2% | $3,740+10.7% |
| Admin fee / account holder | $68 | $704-90.3% | $5,948-98.9% | $513-86.7% |