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| Provider | Service type | Compensation |
|---|---|---|
CBIZ RETIREMENT PLAN SERVICES3+ years Filed as: CBIZ FINANCIAL SOLUTIONS Service code 15 6050 OAK TREE BLVD., SUITE 500 · CLEVELAND, OH 44131 | Recordkeeping | $14,501 |
NEWPORT GROUP, INC.2 years Service code 15 · EIN 63-1156117 | Recordkeeping | $9,886 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $51,960 | $51,466+1.0% | $78,778-34.0% | $62,293-16.6% |
| Participation rate | 64.4% | 59.8%+4.6pp | 69.2%-4.8pp | 69.5%-5.2pp |
| Annual return | 15.27% | 19.96%-4.7pp | 35.62%-20.3pp | 28.90%-13.6pp |
| Employer contribution / active EE | $0 | $827-100.0% | $1,986-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $2,722 | $2,147+26.7% | $2,958-8.0% | $3,169-14.1% |
| Admin fee / account holder | $339 | $489-30.8% | $5,134-93.4% | $479-29.3% |