Filed May 22, 2023 (most recent of 5 filings on file)
Total covered: 5 employees
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| Provider | Service type | Compensation |
|---|---|---|
Service code 64 · EIN 71-0294708 | Recordkeeping Fees | $13,348 |
VBA BENEFITS CORPORATION1+ years Service code 99 · EIN 11-1000111 | Other Fees | $6,213 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $121,252 | $136,307-11.0% | $177,848-31.8% | $73,497+65.0% |
| Participation rate | 53.5% | 86.1%-32.6pp | 87.7%-34.2pp | 70.7%-17.2pp |
| Annual return | 7.79% | 18.68%-10.9pp | 48.33%-40.5pp | 28.51%-20.7pp |
| Employer contribution / active EE | $1,066 | $3,712-71.3% | $5,919-82.0% | $2,270-53.1% |
| Participant deferral / active EE | $1,637 | $5,829-71.9% | $7,714-78.8% | $3,740-56.2% |
| Admin fee / account holder | $318 | $596-46.5% | $12,431-97.4% | $513-37.9% |