Filed September 18, 2024
Total covered: 270 employees
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| Provider | Service type | Compensation |
|---|---|---|
STRATEGIC ADVISORS, INC.2 years Service code 27 · EIN 04-2654524 | Advisory (Plan) | $76,249 |
Service code 37 · EIN 04-2647786 | Loan Processing | $15,148 |
CLARK NUBER1 year Service code 16 · EIN 91-1194016 | Consulting | $10,084 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported that benefits due were not provided when due.
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 | $84,680 | $123,286-31.3% | $75,501+12.2% | $77,958+8.6% |
| Participation rate | 55.5% | 78.8%-23.2pp | 72.4%-16.8pp | 71.6%-16.1pp |
| Annual return | 18.29% | 20.45%-2.2pp | 27.35%-9.1pp | 20.87%-2.6pp |
| Employer contribution / active EE | $955 | $2,035-53.0% | $2,352-59.4% | $2,310-58.6% |
| Participant deferral / active EE | $3,463 | $3,095+11.9% | $3,142+10.2% | $3,537-2.1% |
| Admin fee / account holder | $47 | $144-67.5% | $5,801-99.2% | $97-51.9% |