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| Provider | Service type | Compensation |
|---|---|---|
INDEPENDENCE BANK8 years Service code 21 · EIN 61-1347065 | Bank Trustee | $10,256 |
Service code 15 · EIN 16-1450952 | Recordkeeping | $6,498 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,095 | $83,023-83.0% | $102,437-86.2% | $77,762-81.9% |
| Participation rate | 26.3% | 71.5%-45.3pp | 74.5%-48.2pp | 70.6%-44.3pp |
| Annual return | 12.16% | 19.12%-7.0pp | 24.95%-12.8pp | 31.27%-19.1pp |
| Employer contribution / active EE | $1,162 | $3,552-67.3% | $3,871-70.0% | $2,728-57.4% |
| Participant deferral / active EE | $0 | $4,110-100.0% | $5,060-100.0% | $4,651-100.0% |
| Admin fee / account holder | $102 | $639-84.0% | $8,388-98.8% | $433-76.4% |