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| Provider | Service type | Compensation |
|---|---|---|
ARMADA ADVISORS, INC.2+ years Filed as: ARMADA ADVISORS Service code 26 · EIN 26-4640626 610 NORTH SPRING STREET · PENSACOLA, FL 32501 | Advisory (Participants) | $63,569 |
ALERUS FINANCIAL, N.A.2+ years Service code 15 · EIN 45-0140105 2300 S COLUMBIA ROAD · GRAND FORKS, ND 582066001 | Recordkeeping | $42,759 |
SALTMARSH, CLEVELAND & GUND2+ years Filed as: SALTMARSH CLEVELAND & GUND Service code 10 · EIN 59-2922167 900 NORTH 12TH AVENUE · PENSACOLA, FL 32501 | Accounting | $11,000 |
Filed as: LYNETTE LAVIE BURAS & ASSOCIATES, L Service code 13 · EIN 58-2678386 POST OFFICE BOX 19223 · NEW ORLEANS, LA 701790223 | Contract Administrator | $9,225 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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).
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 | $50,591 | $85,635-40.9% | $123,894-59.2% | $63,975-20.9% |
| Participation rate | 25.8% | 74.9%-49.1pp | 81.4%-55.6pp | 71.1%-45.3pp |
| Annual return | 18.95% | 15.74%+3.2pp | 47.52%-28.6pp | 48.65%-29.7pp |
| Employer contribution / active EE | $742 | $3,076-75.9% | $4,617-83.9% | $2,182-66.0% |
| Participant deferral / active EE | $1,134 | $5,667-80.0% | $5,984-81.1% | $3,356-66.2% |
| Admin fee / account holder | $314 | $75+318.6% | $8,357-96.2% | $70+345.2% |