Filed November 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $374,425 |
CREATIVE PLANNING LLC3 years Service code 27 · EIN 84-4519624 | Advisory (Plan) | $78,000 |
MAILLIE LLP2 years Filed as: MALLIE LLP Service code 10 · EIN 23-1518888 | Accounting | $28,500 |
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 | $25,771 | $77,577-66.8% | $101,794-74.7% | $140,769-81.7% |
| Participation rate | 53.6% | 56.8%-3.2pp | 69.2%-15.6pp | 74.2%-20.6pp |
| Annual return | 19.57% | 14.47%+5.1pp | 30.53%-11.0pp | 16.82%+2.8pp |
| Employer contribution / active EE | $695 | $1,318-47.2% | $2,289-69.6% | $3,906-82.2% |
| Participant deferral / active EE | $2,181 | $2,205-1.1% | $4,084-46.6% | $6,717-67.5% |
| Admin fee / account holder | $62 | $84-26.6% | $8,777-99.3% | $229-73.0% |