Filed May 6, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 35-2552359 | Advisory (Plan) | $51,415 |
Service code 37 · EIN 04-2647786 | Loan Processing | $49,282 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $48,332 | $69,511-30.5% | $94,664-48.9% | $71,511-32.4% |
| Participation rate | 90.3% | 78.4%+11.9pp | 80.8%+9.5pp | 67.9%+22.4pp |
| Annual return | 33.01% | 29.67%+3.3pp | 156.84%-123.8pp | 28.86%+4.2pp |
| Employer contribution / active EE | $7,194 | $2,853+152.1% | $3,673+95.9% | $2,589+177.8% |
| Participant deferral / active EE | $20,648 | $7,348+181.0% | $7,417+178.4% | $4,291+381.2% |
| Admin fee / account holder | $332 | $1,211-72.6% | $7,222-95.4% | $1,588-79.1% |