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 | $77,833 |
REGIONS BANK1 year Service code 27 · EIN 63-0371391 | Advisory (Plan) | $60,891 |
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 | $12,661 | $45,382-72.1% | $154,108-91.8% | $75,289-83.2% |
| Participation rate | 68.5% | 65.9%+2.6pp | 83.0%-14.6pp | 72.4%-4.0pp |
| Annual return | -5.75% | -0.47%-5.3pp | 735.21%-741.0pp | -0.04%-5.7pp |
| Employer contribution / active EE | $240 | $1,533-84.3% | $5,298-95.5% | $2,405-90.0% |
| Participant deferral / active EE | $1,059 | $2,384-55.6% | $5,081-79.2% | $3,739-71.7% |
| Admin fee / account holder | $98 | $89+9.7% | $13,411-99.3% | $102-4.2% |