Filed January 11, 2024
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| Provider | Service type | Compensation |
|---|---|---|
INGHAM & COMPANY3+ years Service code 13 · EIN 65-0170152 | Contract Administrator | $38,290 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $49,369 | $48,064+2.7% | $78,778-37.3% | $69,631-29.1% |
| Participation rate | 18.5% | 61.6%-43.0pp | 69.2%-50.7pp | 70.7%-52.2pp |
| Annual return | 14.97% | 21.81%-6.8pp | 35.62%-20.6pp | 27571.02%-27556.1pp |
| Employer contribution / active EE | $0 | $744-100.0% | $1,986-100.0% | $2,032-100.0% |
| Participant deferral / active EE | $689 | $2,079-66.9% | $2,958-76.7% | $3,224-78.6% |
| Admin fee / account holder | $290 | $152+90.5% | $5,134-94.4% | $110+162.3% |