Filed April 6, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER4 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $16,975 |
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 | $17,797 | $65,582-72.9% | $64,099-72.2% | $71,495-75.1% |
| Participation rate | 45.5% | 73.2%-27.7pp | 72.3%-26.9pp | 67.9%-22.5pp |
| Annual return | 24.59% | 18.96%+5.6pp | 33.70%-9.1pp | 28.85%-4.3pp |
| Employer contribution / active EE | $581 | $2,671-78.3% | $2,748-78.9% | $2,589-77.6% |
| Participant deferral / active EE | $2,143 | $3,628-40.9% | $3,881-44.8% | $4,291-50.1% |
| Admin fee / account holder | $88 | $616-85.7% | $3,070-97.1% | $1,588-94.4% |