Filed September 24, 2020
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER2 years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $1,080 |
ADP BROKER-DEALER2 years Service code 49 · EIN 22-3319984 | Other Services | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $26,386 | $80,753-67.3% | $136,298-80.6% | $62,293-57.6% |
| Participation rate | 42.2% | 73.5%-31.4pp | 81.9%-39.7pp | 69.5%-27.3pp |
| Annual return | 64.92% | 35.83%+29.1pp | 5156.27%-5091.3pp | 28.90%+36.0pp |
| Employer contribution / active EE | $1,210 | $2,884-58.1% | $4,696-74.2% | $2,042-40.8% |
| Participant deferral / active EE | $3,064 | $5,164-40.7% | $6,247-51.0% | $3,169-3.3% |
| Admin fee / account holder | $9 | $525-98.3% | $9,244-99.9% | $479-98.2% |