Filed April 6, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER5 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $24,492 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $21,699 | $69,708-68.9% | $67,560-67.9% | $74,478-70.9% |
| Participation rate | 48.6% | 71.4%-22.9pp | 72.9%-24.4pp | 67.2%-18.7pp |
| Annual return | 15.19% | -40.67%+55.9pp | 3533.50%-3518.3pp | 1370.56%-1355.4pp |
| Employer contribution / active EE | $599 | $2,715-77.9% | $2,737-78.1% | $2,626-77.2% |
| Participant deferral / active EE | $2,512 | $3,637-30.9% | $4,004-37.3% | $4,350-42.3% |
| Admin fee / account holder | $119 | $887-86.6% | $3,994-97.0% | $1,946-93.9% |