Filed June 20, 2022
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER1+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $9,526 |
ADP BROKER-DEALER1+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
NFP RETIREMENT INC1+ years Filed as: NFP Service code 49 5141 VIRGINIA WAY SUITE 370 · BRENTWOOD, TN 37027 | Other Services | $0 |
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.
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 | $12,306 | $225,135-94.5% | $123,894-90.1% | - |
| Participation rate | 16.5% | 69.5%-53.0pp | 81.4%-64.9pp | - |
| Annual return | 16.16% | 8.01%+8.1pp | 47.52%-31.4pp | - |
| Employer contribution / active EE | $0 | $2,580-100.0% | $4,617-100.0% | - |
| Participant deferral / active EE | $1,690 | $4,315-60.8% | $5,984-71.8% | - |
| Admin fee / account holder | $108 | $19,833-99.5% | $8,357-98.7% | - |