Filed April 6, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER6 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $2,639 |
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.
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $28,300 | $96,018-70.5% | $65,493-56.8% | $85,563-66.9% |
| Participation rate | 48.0% | 74.8%-26.8pp | 73.1%-25.1pp | 66.0%-18.0pp |
| Annual return | 22.18% | 14.51%+7.7pp | 982.45%-960.3pp | 31.51%-9.3pp |
| Employer contribution / active EE | $563 | $3,235-82.6% | $2,574-78.1% | $2,654-78.8% |
| Participant deferral / active EE | $2,699 | $4,055-33.4% | $3,961-31.9% | $4,375-38.3% |
| Admin fee / account holder | $142 | $271-47.4% | $5,028-97.2% | $834-82.9% |