Filed April 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
FTB ADVISORS, INC.4+ years Service code 27 · EIN 62-1254528 | Advisory (Plan) | $38,015 |
ASCENSUS LLC1 year Service code 15 · EIN 11-3665754 | Recordkeeping | $18,954 |
WITHUMSMITH+BROWN, PC1 year Filed as: BROWN EDWARDS Service code 10 · EIN 54-0504608 | Accounting | $12,684 |
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.)
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $34,781 | $65,223-46.7% | $80,022-56.5% | $55,725-37.6% |
| Participation rate | 61.0% | 80.6%-19.6pp | 75.8%-14.9pp | 70.9%-9.9pp |
| Annual return | -2.79% | 7.59%-10.4pp | 11.22%-14.0pp | 244.93%-247.7pp |
| Employer contribution / active EE | $1,645 | $2,544-35.4% | $2,468-33.4% | $2,078-20.9% |
| Participant deferral / active EE | $3,901 | $3,881+0.5% | $3,686+5.8% | $3,356+16.3% |
| Admin fee / account holder | $327 | $114+186.3% | $6,521-95.0% | $115+183.9% |