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| Provider | Service type | Compensation |
|---|---|---|
Filed as: TRANSAMERICA FINANCIAL LIFE INSURAN Service code 15 · EIN 36-6071399 | Recordkeeping | $6,772 |
NOVA 401(K) ASSOCIATES1 year Filed as: NOVA 401K ASSOCIATES Service code 13 · EIN 20-1181458 | Contract Administrator | $480 |
Filed as: MESIROW FINANCIAL, INC. Service code 27 · EIN 36-3194849 | Advisory (Plan) | $259 |
Filed as: MASSACHUSETTS MUTUAL LIFE INSURANCE Service code 15 · EIN 04-1590850 | Recordkeeping | $0 |
Filed as: MERRILL LYNCH Service code 22 · EIN 13-2808480 | Insurance Broker | $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).
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 | $7,878 | $46,966-83.2% | $185,117-95.7% | $69,631-88.7% |
| Participation rate | 41.4% | 65.3%-23.9pp | 77.3%-35.9pp | 70.7%-29.3pp |
| Annual return | 20.16% | 22.36%-2.2pp | 40.50%-20.3pp | 27571.02%-27550.9pp |
| Employer contribution / active EE | $784 | $1,360-42.4% | $4,182-81.3% | $2,032-61.4% |
| Participant deferral / active EE | $1,074 | $3,017-64.4% | $5,045-78.7% | $3,224-66.7% |
| Admin fee / account holder | $38 | $94-60.0% | $8,159-99.5% | $110-66.0% |