Filed March 18, 2024
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER5+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $12,560 |
FOCUS 401K GROUP, LLC4 years Service code 15 · EIN 47-1258840 | Recordkeeping | $10,000 |
ADP BROKER-DEALER5+ 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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $14,813 | $48,116-69.2% | $99,470-85.1% | $77,775-81.0% |
| Participation rate | 41.9% | 60.0%-18.0pp | 73.8%-31.9pp | 73.2%-31.3pp |
| Annual return | 28.25% | 23.23%+5.0pp | 30.72%-2.5pp | 32.58%-4.3pp |
| Employer contribution / active EE | $704 | $1,057-33.4% | $2,540-72.3% | $2,504-71.9% |
| Participant deferral / active EE | $1,210 | $2,238-45.9% | $3,619-66.6% | $3,966-69.5% |
| Admin fee / account holder | $36 | $87-58.5% | $6,252-99.4% | $100-63.8% |