Filed March 18, 2024
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER4+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $13,965 |
FOCUS 401K GROUP, LLC3 years Service code 15 · EIN 47-1258840 | Recordkeeping | $10,000 |
ADP BROKER-DEALER4+ 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).
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 | $8,702 | $35,366-75.4% | $90,657-90.4% | $75,289-88.4% |
| Participation rate | 42.7% | 57.3%-14.6pp | 74.0%-31.3pp | 72.4%-29.7pp |
| Annual return | -3.61% | -2.19%-1.4pp | 1.89%-5.5pp | -0.04%-3.6pp |
| Employer contribution / active EE | $587 | $916-35.9% | $2,532-76.8% | $2,405-75.6% |
| Participant deferral / active EE | $969 | $1,998-51.5% | $3,424-71.7% | $3,739-74.1% |
| Admin fee / account holder | $34 | $59-41.7% | $4,994-99.3% | $102-66.4% |