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| Provider | Service type | Compensation |
|---|---|---|
INDEPENDENCE BANK1 year Service code 21 · EIN 61-1347065 | Bank Trustee | $7,896 |
Filed as: UNION BANK & TRUST Service code 15 · EIN 47-0321480 | Recordkeeping | $7,620 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $14,793 | $52,293-71.7% | $178,499-91.7% | $73,412-79.8% |
| Participation rate | 34.3% | 65.3%-31.1pp | 81.9%-47.7pp | 72.2%-37.9pp |
| Annual return | 6.48% | 34.75%-28.3pp | 151.10%-144.6pp | 59.30%-52.8pp |
| Employer contribution / active EE | $484 | $1,735-72.1% | $5,011-90.3% | $2,234-78.3% |
| Participant deferral / active EE | $821 | $2,332-64.8% | $5,202-84.2% | $3,806-78.4% |
| Admin fee / account holder | $133 | $127+4.7% | $13,986-99.0% | $158-15.5% |