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| Provider | Service type | Compensation |
|---|---|---|
SYNOVUS TRUST COMPANY N.A.2+ years Filed as: SYNOVUS TRUST COMPANY, N.A. Service code 15 · EIN 58-2146977 PO BOX 23024 · COLUMBUS, GA 319023024 | Recordkeeping | $23,438 |
Service code 13 · EIN 27-0293282 | Contract Administrator | $504 |
Filed as: MASSMUTUAL LIFE INSURANCE CO. Service code 15 · EIN 04-1590850 | Recordkeeping | $156 |
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.)
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 | $65,918 | $69,977-5.8% | $108,582-39.3% | $62,881+4.8% |
| Participation rate | 60.2% | 72.9%-12.7pp | 79.6%-19.3pp | 69.3%-9.1pp |
| Annual return | 6.93% | 10.73%-3.8pp | -51.70%+58.6pp | 20.14%-13.2pp |
| Employer contribution / active EE | $0 | $2,135-100.0% | $3,758-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $1,226 | $3,165-61.3% | $4,311-71.6% | $3,203-61.7% |
| Admin fee / account holder | $451 | $5,076-91.1% | $7,645-94.1% | $4,296-89.5% |