Filed November 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $332,239 |
CREATIVE PLANNING LLC2 years Service code 27 · EIN 84-4519624 | Advisory (Plan) | $78,000 |
MAILLIE LLP1 year Filed as: MALLIE LLP Service code 10 · EIN 23-1518888 | Accounting | $14,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported that benefits due were not provided when due.
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 | $27,144 | $57,150-52.5% | $93,727-71.0% | $106,553-74.5% |
| Participation rate | 44.3% | 49.1%-4.8pp | 68.7%-24.4pp | 69.8%-25.5pp |
| Annual return | 15.51% | 15.81%-0.3pp | 133.83%-118.3pp | 17.37%-1.9pp |
| Employer contribution / active EE | $683 | $1,015-32.7% | $2,421-71.8% | $3,359-79.7% |
| Participant deferral / active EE | $2,113 | $1,853+14.0% | $4,417-52.2% | $5,562-62.0% |
| Admin fee / account holder | $72 | $64+12.5% | $8,292-99.1% | $80-9.1% |