Filed November 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $165,965 |
Filed as: LOCKTON INVESTMENT ADVISORS Service code 27 · EIN 20-8874282 | Advisory (Plan) | $58,500 |
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 a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,861 | $47,540-60.3% | $79,550-76.3% | $89,394-78.9% |
| Participation rate | 39.1% | 54.9%-15.8pp | 69.5%-30.3pp | 71.3%-32.1pp |
| Annual return | 36.42% | -8.05%+44.5pp | 0.16%+36.3pp | -11.89%+48.3pp |
| Employer contribution / active EE | $461 | $1,122-58.9% | $2,413-80.9% | $3,022-84.7% |
| Participant deferral / active EE | $1,594 | $1,961-18.7% | $3,985-60.0% | $5,123-68.9% |
| Admin fee / account holder | $46 | $59-21.6% | $6,832-99.3% | $79-42.2% |