Filed July 26, 2019
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER5+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $9,823 |
Filed as: CBIZ FINANCIAL SOLUTIONS, INC. Service code 15 · EIN 52-1396995 | Recordkeeping | $8,051 |
ADP BROKER-DEALER3 years Service code 49 · EIN 22-3319984 | Other Services | $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).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $8,361 | $40,522-79.4% | $84,637-90.1% | $67,582-87.6% |
| Participation rate | 46.5% | 51.1%-4.6pp | 68.2%-21.7pp | 71.3%-24.8pp |
| Annual return | 28.67% | 32.72%-4.1pp | 258.82%-230.2pp | 378.57%-349.9pp |
| Employer contribution / active EE | $299 | $1,146-73.9% | $2,653-88.7% | $2,148-86.1% |
| Participant deferral / active EE | $1,341 | $2,132-37.1% | $3,900-65.6% | $3,539-62.1% |
| Admin fee / account holder | $59 | $145-59.3% | $4,914-98.8% | $142-58.4% |