Filed June 21, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $49,021 |
REGIONS BANK2+ years Filed as: REGIONS Service code 27 · EIN 63-0927507 | Advisory (Plan) | $44,784 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $13,243 | $37,213-64.4% | $156,551-91.5% | $63,975-79.3% |
| Participation rate | 56.1% | 65.0%-8.9pp | 84.0%-27.9pp | 71.1%-15.0pp |
| Annual return | 12.33% | 47.89%-35.6pp | 32.23%-19.9pp | 48.65%-36.3pp |
| Employer contribution / active EE | $132 | $1,357-90.3% | $5,501-97.6% | $2,182-94.0% |
| Participant deferral / active EE | $709 | $2,070-65.8% | $4,871-85.5% | $3,356-78.9% |
| Admin fee / account holder | $82 | $56+46.0% | $13,028-99.4% | $70+16.7% |