Filed October 22, 2020
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.6 years Service code 15 · EIN 27-2037969 | Recordkeeping | $23,525 |
LPL FINANCIAL4 years Service code 26 · EIN 04-3046611 | Advisory (Participants) | $19,003 |
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.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $50,035 | $79,694-37.2% | $96,171-48.0% | $79,391-37.0% |
| Participation rate | 32.2% | 54.0%-21.7pp | 68.4%-36.2pp | 70.7%-38.5pp |
| Annual return | 12.81% | 40.84%-28.0pp | 192.04%-179.2pp | 116.88%-104.1pp |
| Employer contribution / active EE | $974 | $1,443-32.5% | $2,799-65.2% | $2,428-59.9% |
| Participant deferral / active EE | $1,761 | $2,539-30.6% | $4,350-59.5% | $4,046-56.5% |
| Admin fee / account holder | $401 | $630-36.3% | $5,538-92.8% | $627-36.0% |