Filed October 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
JPMORGAN INVEST HOLDINGS LLC7 years Service code 64 · EIN 13-2624428 | Recordkeeping Fees | $40,962 |
Service code 27 · EIN 13-2624428 1400 AMERICAN BLVD BLDG #4 · PENNINGTON, NJ 08534 | Advisory (Plan) | $27,254 |
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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return 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 | $45,214 | $59,054-23.4% | $97,167-53.5% | $77,671-41.8% |
| Participation rate | 20.8% | 67.9%-47.1pp | 72.7%-51.9pp | 70.6%-49.8pp |
| Annual return | 11.63% | 16.96%-5.3pp | 75.27%-63.6pp | 31.21%-19.6pp |
| Employer contribution / active EE | $288 | $1,742-83.5% | $2,729-89.4% | $2,726-89.4% |
| Participant deferral / active EE | $848 | $3,930-78.4% | $4,264-80.1% | $4,648-81.8% |
| Admin fee / account holder | $297 | $346-14.3% | $5,650-94.8% | $430-31.1% |