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| Provider | Service type | Compensation |
|---|---|---|
SUNTRUST BANKS, INC.1 year Filed as: BRANCH BANKING AND TRUST COMPANY Service code 16 · EIN 56-1368984 | Consulting | $17,723 |
Filed as: BB&T INSTITUTIONAL ADVISORS, INC. Service code 26 · EIN 57-0956597 | Advisory (Participants) | $5,602 |
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.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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 | $33,220 | $60,165-44.8% | $74,184-55.2% | $55,167-39.8% |
| Participation rate | 51.7% | 74.2%-22.5pp | 76.6%-25.0pp | 69.0%-17.3pp |
| Annual return | 5.88% | 10.00%-4.1pp | 17.74%-11.9pp | 169.23%-163.4pp |
| Employer contribution / active EE | $1,026 | $1,600-35.9% | $2,370-56.7% | $1,963-47.7% |
| Participant deferral / active EE | $1,363 | $2,973-54.2% | $3,550-61.6% | $3,054-55.4% |
| Admin fee / account holder | $268 | $419-36.1% | $5,586-95.2% | $504-46.8% |