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| Provider | Service type | Compensation |
|---|---|---|
Service code 64 · EIN 71-0294708 | Recordkeeping Fees | $31,152 |
Filed as: MORGAN STANLEY SMITH BARNEY LLC Service code 55 1 NEW YORK PLAZA · NEW YORK, NY 10004 | Other Commissions | $9,787 |
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.
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).
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $51,868 | $167,352-69.0% | $143,788-63.9% | $134,509-61.4% |
| Participation rate | 33.3% | 84.8%-51.5pp | 80.3%-47.0pp | 81.2%-47.9pp |
| Annual return | -6.97% | 0.47%-7.4pp | -0.03%-6.9pp | 418.13%-425.1pp |
| Employer contribution / active EE | $37 | $5,620-99.3% | $4,952-99.3% | $4,741-99.2% |
| Participant deferral / active EE | $8,906 | $6,447+38.1% | $5,638+58.0% | $6,400+39.2% |
| Admin fee / account holder | $358 | $18,091-98.0% | $14,675-97.6% | $11,427-96.9% |