Filed February 28, 2024
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| Provider | Service type | Compensation |
|---|---|---|
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY GLOBAL Service code 27 · EIN 26-4310632 | Advisory (Plan) | $172,035 |
Service code 13 · EIN 42-0127290 | Contract Administrator | $55,891 |
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 | $83,946 | $50,815+65.2% | $155,509-46.0% | $77,643+8.1% |
| Participation rate | 98.1% | 63.1%+35.0pp | 78.2%+19.9pp | 70.6%+27.5pp |
| Annual return | 25.83% | 34.80%-9.0pp | 64.67%-38.8pp | 31.24%-5.4pp |
| Employer contribution / active EE | $4,901 | $1,993+146.0% | $4,672+4.9% | $2,726+79.8% |
| Participant deferral / active EE | $16,186 | $2,822+473.5% | $5,626+187.7% | $4,647+248.3% |
| Admin fee / account holder | $318 | $437-27.2% | $15,912-98.0% | $430-26.1% |