Filed November 8, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH - EPS Service code 26 · EIN 13-5674085 150 N. COLLEGE ST. · CHARLOTTE, NC 28202 | Advisory (Participants) | $19,037 |
Filed as: MERRILL LYNCH - FAS Service code 26 · EIN 13-5674085 150 N. COLLEGE ST. · CHARLOTTE, NC 28202 | Advisory (Participants) | $14,278 |
Service code 15 · EIN 01-0233346 | Recordkeeping | $1,000 |
Service code 13 · EIN 35-1140070 | Contract Administrator | $174 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $74,455 | $69,771+6.7% | $67,524+10.3% | $74,400+0.1% |
| Participation rate | 83.2% | 71.4%+11.8pp | 72.9%+10.3pp | 67.2%+16.0pp |
| Annual return | 15.09% | -40.49%+55.6pp | 3519.41%-3504.3pp | 1367.51%-1352.4pp |
| Employer contribution / active EE | $8,492 | $2,710+213.3% | $2,734+210.6% | $2,624+223.6% |
| Participant deferral / active EE | $5,544 | $3,638+52.4% | $4,001+38.6% | $4,348+27.5% |
| Admin fee / account holder | $358 | $889-59.8% | $4,001-91.1% | $1,944-81.6% |