Filed May 29, 2024
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| Provider | Service type | Compensation |
|---|---|---|
DAILYACCESS CORPORATION1+ years Service code 15 · EIN 63-1156117 | Recordkeeping | $27,011 |
INDEPENDENT FINANCIAL PARTNERS1+ years Service code 27 | Advisory (Plan) | $20,018 |
GLOBAL RETIREMENT PARTNERS LLC1+ years Filed as: GLOBAL RETIREMENT PARTNERS, LLC Service code 50 · EIN 47-1411118 | Direct Payment | $8,137 |
TIAA1+ years Service code 15 · EIN 13-1624203 | Recordkeeping | $6,402 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $6,522 | $32,913-80.2% | $80,004-91.8% | $59,188-89.0% |
| Participation rate | 64.3% | 56.9%+7.4pp | 73.0%-8.7pp | 69.4%-5.1pp |
| Annual return | -2.90% | 1.16%-4.1pp | 7.63%-10.5pp | 5.51%-8.4pp |
| Employer contribution / active EE | $992 | $789+25.8% | $2,473-59.9% | $2,098-52.7% |
| Participant deferral / active EE | $0 | $1,686-100.0% | $3,204-100.0% | $3,265-100.0% |
| Admin fee / account holder | $75 | $40+88.2% | $5,033-98.5% | $92-18.3% |