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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $28,300 | $93,351-69.7% | $62,929-55.0% | $79,634-64.5% |
| Participation rate | 48.0% | 74.6%-26.6pp | 73.1%-25.1pp | 62.5%-14.5pp |
| Annual return | 22.18% | 14.37%+7.8pp | 1063.93%-1041.7pp | 36.46%-14.3pp |
| Employer contribution / active EE | $563 | $3,135-82.1% | $2,505-77.5% | $2,529-77.8% |
| Participant deferral / active EE | $2,699 | $3,921-31.2% | $3,888-30.6% | $3,835-29.6% |
| Admin fee / account holder | $142 | $229-37.9% | $5,065-97.2% | $1,002-85.8% |