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 | $63,638 |
REGIONS BANK3+ years Filed as: REGIONS Service code 27 · EIN 63-0927507 | Advisory (Plan) | $48,138 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported that benefits due were not provided when due.
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 | $13,941 | $44,989-69.0% | $170,435-91.8% | $77,958-82.1% |
| Participation rate | 65.6% | 64.6%+1.0pp | 83.6%-18.0pp | 71.6%-6.1pp |
| Annual return | 16.29% | 19.61%-3.3pp | 205.94%-189.6pp | 20.87%-4.6pp |
| Employer contribution / active EE | $175 | $1,466-88.1% | $5,432-96.8% | $2,310-92.4% |
| Participant deferral / active EE | $887 | $2,208-59.8% | $4,939-82.0% | $3,537-74.9% |
| Admin fee / account holder | $86 | $69+24.5% | $13,881-99.4% | $97-11.8% |