Filed March 18, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 12 · EIN 13-3689044 | Sales loads (front end and deferred);... | $27,044 |
Filed as: GALLAGHER FIDUCIARY ADVISORS Service code 27 · EIN 36-4291971 | Advisory (Plan) | $14,510 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $21,309 | $45,959-53.6% | $91,225-76.6% | $77,906-72.6% |
| Participation rate | 32.6% | 66.3%-33.8pp | 73.2%-40.6pp | 73.7%-41.1pp |
| Annual return | -13.42% | -5.32%-8.1pp | 114.10%-127.5pp | 12.16%-25.6pp |
| Employer contribution / active EE | $755 | $1,451-48.0% | $2,851-73.5% | $2,846-73.5% |
| Participant deferral / active EE | $1,392 | $3,283-57.6% | $4,234-67.1% | $4,805-71.0% |
| Admin fee / account holder | $52 | $99-47.8% | $5,422-99.0% | $133-61.1% |