Filed July 19, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $104,691 |
CAPFINANCIAL PARTNERS LLC2 years Filed as: CAPFINANCIAL PARTNERS, LLC Service code 27 · EIN 26-0058143 | Advisory (Plan) | $68,985 |
PLANTE & MORAN, PLLC1 year Service code 10 · EIN 38-1357951 | Accounting | $16,020 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported that benefits due were not provided when due.
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 | $62,800 | $85,938-26.9% | $125,195-49.8% | $89,609-29.9% |
| Participation rate | 58.8% | 73.9%-15.0pp | 79.8%-21.0pp | 69.6%-10.8pp |
| Annual return | 21.19% | 20.69%+0.5pp | 43.79%-22.6pp | 33.65%-12.5pp |
| Employer contribution / active EE | $473 | $2,681-82.3% | $3,866-87.8% | $2,584-81.7% |
| Participant deferral / active EE | $2,696 | $3,818-29.4% | $4,937-45.4% | $4,222-36.2% |
| Admin fee / account holder | $15 | $56-73.7% | $9,704-99.8% | $72-79.3% |