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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH Service code 22 | Insurance Broker | $1,412 |
ASCENSUS LLC2 years Service code 15 · EIN 82-3719843 | Recordkeeping | $1,225 |
Filed as: TRANSAMERICA FINANCIAL LIFE INS CO Service code 15 · EIN 36-6071399 | Recordkeeping | $285 |
MERRIL LYNCH4 years Service code 22 · EIN 13-2808480 | Insurance Broker | $0 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $58,060 | $78,419-26.0% | $133,959-56.7% | $73,412-20.9% |
| Participation rate | 18.6% | 78.6%-60.0pp | 79.8%-61.3pp | 72.2%-53.6pp |
| Annual return | 14.61% | 33.35%-18.7pp | 45.09%-30.5pp | 59.30%-44.7pp |
| Employer contribution / active EE | $0 | $2,044-100.0% | $3,919-100.0% | $2,234-100.0% |
| Participant deferral / active EE | $853 | $3,925-78.3% | $5,047-83.1% | $3,806-77.6% |
| Admin fee / account holder | $417 | $161+158.3% | $8,928-95.3% | $158+163.9% |