Filed March 18, 2024
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| Provider | Service type | Compensation |
|---|---|---|
FOCUS 401K GROUP, LLC1 year Service code 15 · EIN 47-1258840 | Recordkeeping | $9,321 |
ADP BROKER-DEALER2+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $3,042 |
ADP BROKER-DEALER2+ years Service code 59 · EIN 22-3319984 | Shareholder Servicing | $0 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $4,022 | $57,103-93.0% | $87,502-95.4% | $57,658-93.0% |
| Participation rate | 63.6% | 64.3%-0.7pp | 73.8%-10.2pp | 70.2%-6.6pp |
| Annual return | 12.27% | 12.71%-0.4pp | 12.21%+0.1pp | 5.13%+7.1pp |
| Employer contribution / active EE | $262 | $1,107-76.3% | $2,550-89.7% | $1,974-86.7% |
| Participant deferral / active EE | $806 | $2,250-64.2% | $3,149-74.4% | $3,061-73.7% |
| Admin fee / account holder | $23 | $281-91.9% | $4,221-99.5% | $95-76.0% |