Filed April 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
FTB ADVISORS, INC.7+ years Service code 27 · EIN 62-1254528 | Advisory (Plan) | $57,557 |
ASCENSUS LLC4 years Service code 15 · EIN 11-3665754 | Recordkeeping | $24,113 |
WITHUMSMITH+BROWN, PC1 year Filed as: BROWN EDWARDS CO Service code 10 513 STATE STREET · BRISTOL, VA 24201 | Accounting | $15,369 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $52,368 | $93,131-43.8% | $106,555-50.9% | $86,821-39.7% |
| Participation rate | 62.3% | 81.4%-19.1pp | 76.1%-13.8pp | 72.3%-10.0pp |
| Annual return | 13.71% | 19.45%-5.7pp | 26.80%-13.1pp | 97.94%-84.2pp |
| Employer contribution / active EE | $1,793 | $2,895-38.1% | $2,819-36.4% | $2,406-25.5% |
| Participant deferral / active EE | $3,590 | $4,708-23.8% | $4,399-18.4% | $4,132-13.1% |
| Admin fee / account holder | $422 | $145+190.8% | $7,408-94.3% | $170+148.8% |