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| Provider | Service type | Compensation |
|---|---|---|
SUNTRUST BANKS, INC.2 years Filed as: BRANCH BANKING AND TRUST COMPANY Service code 16 · EIN 56-1368984 | Consulting | $17,660 |
Filed as: BB&T INSTITUTIONAL ADVISORS, INC. Service code 26 · EIN 57-0956597 | Advisory (Participants) | $7,387 |
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.
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 | $37,534 | $64,909-42.2% | $82,313-54.4% | $62,293-39.7% |
| Participation rate | 47.0% | 74.9%-27.9pp | 76.9%-29.9pp | 69.5%-22.5pp |
| Annual return | 15.56% | 21.18%-5.6pp | 25.88%-10.3pp | 28.90%-13.3pp |
| Employer contribution / active EE | $923 | $1,676-44.9% | $2,428-62.0% | $2,042-54.8% |
| Participant deferral / active EE | $1,276 | $3,103-58.9% | $3,706-65.6% | $3,169-59.7% |
| Admin fee / account holder | $300 | $440-31.8% | $5,608-94.7% | $479-37.5% |