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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 | $45,031+70.4% | $85,009-9.8% | $77,671-1.2% |
| Participation rate | 21.2% | 48.7%-27.4pp | 67.5%-46.3pp | 70.6%-49.3pp |
| Annual return | 16.37% | 79.22%-62.8pp | 66.47%-50.1pp | 31.21%-14.8pp |
| Employer contribution / active EE | $622 | $1,609-61.3% | $2,728-77.2% | $2,726-77.2% |
| Participant deferral / active EE | $1,279 | $2,807-54.4% | $4,522-71.7% | $4,648-72.5% |
| Admin fee / account holder | $348 | $912-61.9% | $6,153-94.3% | $430-19.2% |