Filed February 22, 2024
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| Provider | Service type | Compensation |
|---|---|---|
BAC CAPITAL ADVISORS, LLC2+ years Filed as: BAC CAPITAL ADVISORS Service code 26 · EIN 91-1999591 | Advisory (Participants) | $64,246 |
Filed as: RICHARD EKMAN Service code 20 · EIN 91-1321138 | Legal; Trustee (individual) | $14,823 |
BENEFIT ADMINISTRATION, INC.2+ years Filed as: BENEFIT ADMINSTRATION CO LLC Service code 13 · EIN 91-1999591 | Contract Administrator | $13,242 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $40,229 | $44,425-9.4% | $67,834-40.7% | $55,167-27.1% |
| Participation rate | 99.0% | 59.7%+39.3pp | 68.8%+30.2pp | 69.0%+30.0pp |
| Annual return | 9.37% | 17.80%-8.4pp | 138.47%-129.1pp | 169.23%-159.9pp |
| Employer contribution / active EE | $1,329 | $1,351-1.7% | $2,403-44.7% | $1,963-32.3% |
| Participant deferral / active EE | $5,322 | $2,166+145.7% | $3,160+68.4% | $3,054+74.3% |
| Admin fee / account holder | $343 | $530-35.3% | $4,622-92.6% | $504-31.9% |