Filed April 6, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER3 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $13,836 |
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 | $14,633 | $60,989-76.0% | $60,906-76.0% | $66,938-78.1% |
| Participation rate | 47.9% | 74.5%-26.6pp | 73.1%-25.2pp | 69.8%-21.9pp |
| Annual return | -15.16% | -9.60%-5.6pp | 16.94%-32.1pp | 1.58%-16.7pp |
| Employer contribution / active EE | $502 | $2,661-81.1% | $2,703-81.4% | $2,545-80.3% |
| Participant deferral / active EE | $1,892 | $3,615-47.7% | $3,814-50.4% | $4,238-55.4% |
| Admin fee / account holder | $86 | $338-74.6% | $3,227-97.3% | $594-85.5% |