Filed April 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
FTB ADVISORS, INC.9+ years Service code 27 · EIN 62-1254528 | Advisory (Plan) | $60,339 |
ASCENSUS LLC6 years Service code 15 · EIN 11-3665754 | Recordkeeping | $28,627 |
WITHUMSMITH+BROWN, PC6 years Filed as: BROWN EDWARDS Service code 10 · EIN 54-0504608 | Accounting | $17,415 |
Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346 | Recordkeeping | $0 |
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.)
Annual investment return is in the bottom quintile of the peer cohort.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $50,931 | $71,516-28.8% | $98,439-48.3% | $71,457-28.7% |
| Participation rate | 60.3% | 72.7%-12.4pp | 75.2%-14.8pp | 67.9%-7.6pp |
| Annual return | 8.55% | 32.41%-23.9pp | 21.16%-12.6pp | 28.85%-20.3pp |
| Employer contribution / active EE | $1,046 | $2,399-56.4% | $3,048-65.7% | $2,588-59.6% |
| Participant deferral / active EE | $3,254 | $4,109-20.8% | $4,738-31.3% | $4,289-24.1% |
| Admin fee / account holder | $479 | $1,675-71.4% | $8,948-94.6% | $1,587-69.8% |