Filed May 25, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE4+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $307,749 |
Filed as: PENSION FINANCIAL SERVICE, INC Service code 13 3700 CRESTWOOD PKWY, SUITE 550 · DULUTH, GA 30096 | Contract Administrator | $97,845 |
Service code 13 | Contract Administrator | $47,275 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $63,748 | $64,311-0.9% | $110,243-42.2% | $75,289-15.3% |
| Participation rate | 79.1% | 79.3%-0.1pp | 79.8%-0.7pp | 72.4%+6.7pp |
| Annual return | -6.32% | -1.74%-4.6pp | 314.76%-321.1pp | -0.04%-6.3pp |
| Employer contribution / active EE | $1,035 | $2,404-56.9% | $3,827-73.0% | $2,405-57.0% |
| Participant deferral / active EE | $3,277 | $3,892-15.8% | $4,672-29.9% | $3,739-12.3% |
| Admin fee / account holder | $319 | $88+263.9% | $8,548-96.3% | $102+211.7% |