Filed November 24, 2020
Total covered: 5 employees
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.8+ years Service code 15 · EIN 27-2037969 | Recordkeeping | $49,758 |
NEWPORT GROUP, INC.1 year Filed as: NEWPORT TRUST COMPANY Service code 20 · EIN 27-4411131 | Trustee (bank, trust company, or simi... | $7,906 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $53,458 | $47,766+11.9% | $82,744-35.4% | $64,819-17.5% |
| Participation rate | 54.6% | 67.7%-13.1pp | 72.6%-17.9pp | 71.5%-16.8pp |
| Annual return | -14.96% | -13.06%-1.9pp | 702.22%-717.2pp | 32.84%-47.8pp |
| Employer contribution / active EE | $573 | $2,182-73.7% | $3,008-80.9% | $2,507-77.1% |
| Participant deferral / active EE | $2,165 | $3,332-35.0% | $4,395-50.7% | $4,311-49.8% |
| Admin fee / account holder | $162 | $143+13.6% | $5,325-96.9% | $188-13.5% |