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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 35-1140070 | Contract Administrator | $1,093 |
MAXUS PLAN SOLUTIONS1 year Filed as: MAXUS PLAN SOLUTION Service code 15 13850 BALLANTYNE CORP PLACE · CHARLOTTE, NC 28277 | Recordkeeping | $100 |
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.
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).
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 | $16,201 | $80,753-79.9% | $136,298-88.1% | $62,293-74.0% |
| Participation rate | 31.5% | 73.5%-42.1pp | 81.9%-50.5pp | 69.5%-38.1pp |
| Annual return | 24.67% | 35.83%-11.2pp | 5156.27%-5131.6pp | 28.90%-4.2pp |
| Employer contribution / active EE | $927 | $2,884-67.9% | $4,696-80.3% | $2,042-54.6% |
| Participant deferral / active EE | $1,980 | $5,164-61.6% | $6,247-68.3% | $3,169-37.5% |
| Admin fee / account holder | $87 | $525-83.4% | $9,244-99.1% | $479-81.8% |