Filed July 11, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PINNACLE BANK3+ years Service code 21 · EIN 62-1829917 | Bank Trustee | $10,522 |
EPIC RETIREMENT PLAN SERVICES3+ years Service code 15 · EIN 16-1450952 | Recordkeeping | $2,656 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $15,301 | $57,739-73.5% | $112,273-86.4% | $74,440-79.4% |
| Participation rate | 13.7% | 55.6%-41.9pp | 72.4%-58.8pp | 70.7%-57.1pp |
| Annual return | 36.19% | 19.52%+16.7pp | 30.23%+6.0pp | 34.37%+1.8pp |
| Employer contribution / active EE | $371 | $1,675-77.9% | $3,431-89.2% | $2,638-85.9% |
| Participant deferral / active EE | $692 | $2,891-76.1% | $4,800-85.6% | $4,529-84.7% |
| Admin fee / account holder | $96 | $462-79.2% | $7,752-98.8% | $348-72.3% |