Filed July 11, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PINNACLE BANK4+ years Service code 21 · EIN 62-1829917 | Bank Trustee | $15,281 |
EPIC RETIREMENT PLAN SERVICES4+ years Service code 15 · EIN 16-1450952 | Recordkeeping | $4,349 |
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.
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 | $17,957 | $55,347-67.6% | $120,354-85.1% | $199,593-91.0% |
| Participation rate | 9.8% | 52.9%-43.1pp | 71.9%-62.2pp | 72.0%-62.2pp |
| Annual return | 17.17% | 15.37%+1.8pp | 107.15%-90.0pp | 34.25%-17.1pp |
| Employer contribution / active EE | $243 | $1,296-81.3% | $3,463-93.0% | $3,034-92.0% |
| Participant deferral / active EE | $431 | $2,350-81.7% | $4,991-91.4% | $5,087-91.5% |
| Admin fee / account holder | $127 | $134-5.6% | $9,423-98.7% | $269-52.9% |