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| Provider | Service type | Compensation |
|---|---|---|
AMERICAN FUNDS1 year Service code 15 · EIN 20-3691658 | Recordkeeping | $2,050 |
Filed as: BENEFIT PLANNING CONSULTANTS, INC. Service code 14 · EIN 36-3036100 2110 CLEARLAKE BLVD., STE 200 · CHAMPAIGN, IL 61826 | Plan Administrator | $225 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $4,124 | $54,573-92.4% | $90,970-95.5% | $73,493-94.4% |
| Participation rate | 55.1% | 61.2%-6.1pp | 69.0%-13.9pp | 70.7%-15.6pp |
| Annual return | 67.48% | 16.69%+50.8pp | 134.58%-67.1pp | 28.51%+39.0pp |
| Employer contribution / active EE | $719 | $991-27.5% | $2,122-66.1% | $2,270-68.3% |
| Participant deferral / active EE | $1,045 | $2,517-58.5% | $3,373-69.0% | $3,740-72.1% |
| Admin fee / account holder | $24 | $521-95.3% | $5,960-99.6% | $513-95.2% |