Filed April 4, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: FIRST LIGHT WEALTH LLC Service code 27 405 EAST CHOCOLATE AVE, SUITE 101A · HERSHEY, PA 17033 | Advisory (Plan) | $23,350 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $7,793 |
ADP BROKER-DEALER5 years Filed as: ADP, INC. Service code 27 · EIN 13-3036745 | Advisory (Plan) | $7,386 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.
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 | $31,892 | $106,164-70.0% | $147,041-78.3% | $77,692-59.0% |
| Participation rate | 43.7% | 78.4%-34.6pp | 82.2%-38.4pp | 70.6%-26.8pp |
| Annual return | 26.51% | 56.81%-30.3pp | 419.21%-392.7pp | 31.25%-4.7pp |
| Employer contribution / active EE | $520 | $4,066-87.2% | $4,935-89.5% | $2,726-80.9% |
| Participant deferral / active EE | $4,752 | $7,993-40.6% | $8,071-41.1% | $4,648+2.2% |
| Admin fee / account holder | $75 | $338-77.8% | $13,006-99.4% | $431-82.6% |