Filed January 24, 2024
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| Provider | Service type | Compensation |
|---|---|---|
UNION BANK & TRUST COMPANY4 years Service code 12 · EIN 47-0321480 | Sub-transfer agency fees; Trustee (ba... | $45,962 |
Service code 33 · EIN 13-4046432 | Securities brokerage; Sub-transfer ag... | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $44,997 | $92,076-51.1% | $105,607-57.4% | $77,736-42.1% |
| Participation rate | 62.6% | 81.0%-18.5pp | 75.3%-12.7pp | 70.6%-8.0pp |
| Annual return | 13.50% | 17.84%-4.3pp | 116.11%-102.6pp | 31.26%-17.8pp |
| Employer contribution / active EE | $0 | $3,370-100.0% | $3,167-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $2,746 | $5,390-49.1% | $5,011-45.2% | $4,651-41.0% |
| Admin fee / account holder | $120 | $219-45.2% | $10,958-98.9% | $433-72.3% |