Filed January 22, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 48-1205033 | Recordkeeping | $29,758 |
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.
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 | $14,213 | $39,898-64.4% | $121,220-88.3% | $55,725-74.5% |
| Participation rate | 45.6% | 61.2%-15.6pp | 71.8%-26.2pp | 70.9%-25.3pp |
| Annual return | -4.55% | -0.96%-3.6pp | 16.94%-21.5pp | 244.93%-249.5pp |
| Employer contribution / active EE | $0 | $1,295-100.0% | $4,023-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $955 | $2,439-60.8% | $3,345-71.5% | $3,356-71.5% |
| Admin fee / account holder | $123 | $95+29.8% | $5,021-97.5% | $115+7.2% |