Filed September 24, 2020
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER1 year Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $1,075 |
ADP BROKER-DEALER1 year Service code 49 · EIN 22-3319984 | Other Services | $0 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,682 | $75,183-72.5% | $123,894-83.3% | $55,167-62.5% |
| Participation rate | 31.0% | 72.8%-41.8pp | 81.4%-50.4pp | 69.0%-38.0pp |
| Annual return | 28.54% | 19.01%+9.5pp | 47.52%-19.0pp | 169.23%-140.7pp |
| Employer contribution / active EE | $758 | $2,823-73.2% | $4,617-83.6% | $1,963-61.4% |
| Participant deferral / active EE | $2,470 | $5,084-51.4% | $5,984-58.7% | $3,054-19.1% |
| Admin fee / account holder | $15 | $663-97.8% | $8,357-99.8% | $504-97.1% |