Filed October 22, 2020
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.3 years Service code 15 · EIN 27-2037969 | Recordkeeping | $15,278 |
LPL FINANCIAL1 year Service code 26 · EIN 04-3046611 | Advisory (Participants) | $11,627 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported that benefits due were not provided when due.
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $24,673 | $33,067-25.4% | $76,518-67.8% | $56,289-56.2% |
| Participation rate | 55.0% | 55.4%-0.4pp | 68.0%-13.0pp | 69.9%-14.9pp |
| Annual return | -5.72% | 2.72%-8.4pp | -0.27%-5.5pp | -9.96%+4.2pp |
| Employer contribution / active EE | $1,115 | $1,200-7.1% | $2,647-57.9% | $2,111-47.2% |
| Participant deferral / active EE | $1,822 | $2,240-18.7% | $3,836-52.5% | $3,350-45.6% |
| Admin fee / account holder | $222 | $537-58.6% | $4,849-95.4% | $521-57.3% |