Filed April 20, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: FIFTH THIRD BANK, NATIONAL Service code 27 · EIN 31-0676865 | Advisory (Plan) | $36,626 |
FIDELITY INVESTMENTS INSTITUTIONAL10+ years Service code 37 · EIN 04-2647786 | Loan Processing | $31,841 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $92,531 | $88,203+4.9% | $165,100-44.0% | $74,478+24.2% |
| Participation rate | 88.7% | 73.1%+15.5pp | 78.6%+10.0pp | 67.2%+21.4pp |
| Annual return | 14.98% | 17.13%-2.2pp | 70.21%-55.2pp | 1370.56%-1355.6pp |
| Employer contribution / active EE | $0 | $2,601-100.0% | $4,348-100.0% | $2,626-100.0% |
| Participant deferral / active EE | $6,876 | $4,505+52.6% | $6,035+13.9% | $4,350+58.1% |
| Admin fee / account holder | $302 | $2,235-86.5% | $12,696-97.6% | $1,946-84.5% |