Filed March 18, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 12 · EIN 13-3689044 | Recordkeeping and information managem... | $45,531 |
Filed as: GALLAGHER FIDUCIARY ADVISORS Service code 27 · EIN 36-4291971 | Advisory (Plan) | $31,583 |
NATIONAL FINANCIAL SERVICES3 years Service code 33 · EIN 04-3523567 | Securities brokerage commissions and ... | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $36,846 | $58,336-36.8% | $97,260-62.1% | $199,960-81.6% |
| Participation rate | 28.5% | 63.8%-35.3pp | 72.7%-44.2pp | 72.0%-43.5pp |
| Annual return | 16.59% | 32.81%-16.2pp | 75.54%-59.0pp | 34.28%-17.7pp |
| Employer contribution / active EE | $1,421 | $1,416+0.3% | $2,721-47.8% | $3,036-53.2% |
| Participant deferral / active EE | $746 | $3,240-77.0% | $4,262-82.5% | $5,087-85.3% |
| Admin fee / account holder | $95 | $114-16.3% | $5,640-98.3% | $269-64.6% |