Filed April 9, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $132,581 |
Service code 49 · EIN 59-2730348 | Other Services | $59,100 |
NEWPORT GROUP, INC.1 year Filed as: NEWPORT GROUP INC Service code 49 · EIN 27-2037969 | Other Services | $5,909 |
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $66,373 | $101,317-34.5% | $146,958-54.8% | $74,495-10.9% |
| Participation rate | 89.1% | 75.5%+13.6pp | 82.2%+7.0pp | 67.2%+21.9pp |
| Annual return | 47.60% | 8730.91%-8683.3pp | 418.34%-370.7pp | 1364.94%-1317.3pp |
| Employer contribution / active EE | $6,336 | $3,810+66.3% | $4,933+28.4% | $2,623+141.5% |
| Participant deferral / active EE | $11,631 | $7,303+59.3% | $8,070+44.1% | $4,346+167.6% |
| Admin fee / account holder | $562 | $1,739-67.7% | $12,998-95.7% | $1,942-71.1% |