Filed October 25, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 | Recordkeeping | $1,123 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $124,273 | $83,369+49.1% | $105,223+18.1% | $67,986+82.8% |
| Participation rate | 66.0% | 56.3%+9.7pp | 75.0%-9.1pp | 57.2%+8.7pp |
| Annual return | 14.97% | 24.64%-9.7pp | 180.65%-165.7pp | 31.67%-16.7pp |
| Employer contribution / active EE | $1,443 | $2,541-43.2% | $3,689-60.9% | $2,019-28.5% |
| Participant deferral / active EE | $3,926 | $3,295+19.2% | $5,072-22.6% | $3,358+16.9% |
| Admin fee / account holder | $648 | $4,073-84.1% | $8,859-92.7% | $3,203-79.8% |