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| Provider | Service type | Compensation |
|---|---|---|
1ST SOURCE BANK6 years Service code 15 100 NORTH MICHIGAN STREET · SOUTH BEND, IN 46601 | Recordkeeping | $36,853 |
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.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $76,714 | $45,022+70.4% | $85,126-9.9% | $77,714-1.3% |
| Participation rate | 21.2% | 48.7%-27.4pp | 67.5%-46.3pp | 70.6%-49.3pp |
| Annual return | 16.37% | 79.38%-63.0pp | 66.63%-50.3pp | 31.26%-14.9pp |
| Employer contribution / active EE | $622 | $1,610-61.4% | $2,731-77.2% | $2,727-77.2% |
| Participant deferral / active EE | $1,279 | $2,811-54.5% | $4,523-71.7% | $4,649-72.5% |
| Admin fee / account holder | $348 | $913-61.9% | $6,160-94.4% | $433-19.8% |