Filed March 22, 2021
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER5 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $11,439 |
ADP BROKER-DEALER10+ years Service code 59 · EIN 22-3319984 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $15,584 | $50,815-69.3% | $155,509-90.0% | $77,643-79.9% |
| Participation rate | 37.3% | 63.1%-25.8pp | 78.2%-40.9pp | 70.6%-33.3pp |
| Annual return | 13.42% | 34.80%-21.4pp | 64.67%-51.3pp | 31.24%-17.8pp |
| Employer contribution / active EE | $424 | $1,993-78.7% | $4,672-90.9% | $2,726-84.4% |
| Participant deferral / active EE | $1,199 | $2,822-57.5% | $5,626-78.7% | $4,647-74.2% |
| Admin fee / account holder | $60 | $437-86.4% | $15,912-99.6% | $430-86.2% |