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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $92,531 | $88,083+5.0% | $164,813-43.9% | $74,495+24.2% |
| Participation rate | 88.7% | 73.0%+15.6pp | 78.6%+10.1pp | 67.2%+21.5pp |
| Annual return | 14.98% | 17.26%-2.3pp | 69.93%-55.0pp | 1364.94%-1350.0pp |
| Employer contribution / active EE | $0 | $2,593-100.0% | $4,341-100.0% | $2,623-100.0% |
| Participant deferral / active EE | $6,876 | $4,498+52.9% | $6,031+14.0% | $4,346+58.2% |
| Admin fee / account holder | $302 | $2,234-86.5% | $12,690-97.6% | $1,942-84.5% |