Filed March 5, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 26-1204987 | Advisory (Plan) | $18,061 |
Service code 37 · EIN 04-2647786 | Loan Processing | $325 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $42,703 | $57,108-25.2% | $94,228-54.7% | $52,331-18.4% |
| Participation rate | 37.0% | 72.9%-35.9pp | 78.8%-41.8pp | 68.1%-31.1pp |
| Annual return | -0.52% | 1.47%-2.0pp | 10.68%-11.2pp | 4.54%-5.1pp |
| Employer contribution / active EE | $893 | $1,735-48.6% | $3,587-75.1% | $1,882-52.6% |
| Participant deferral / active EE | $2,025 | $3,040-33.4% | $4,320-53.1% | $3,022-33.0% |
| Admin fee / account holder | $239 | $546-56.3% | $6,269-96.2% | $592-59.6% |