Filed May 11, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH Service code 17 · EIN 13-5674085 | Pension Consulting | $46,852 |
Service code 13 · EIN 42-0127290 | Contract Administrator | $28,177 |
ASCENSUS LLC2 years Filed as: RETIREMENT MANAGEMENT SERVICES, LLC Service code 13 · EIN 31-1560462 | Contract Administrator | $11,486 |
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT Service code 26 | Advisory (Participants) | $0 |
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $73,869 | $129,159-42.8% | $184,243-59.9% | $77,714-4.9% |
| Participation rate | 63.5% | 87.4%-23.9pp | 86.8%-23.3pp | 70.6%-7.1pp |
| Annual return | 23.15% | 33.22%-10.1pp | 28.82%-5.7pp | 31.26%-8.1pp |
| Employer contribution / active EE | $2,376 | $4,410-46.1% | $6,427-63.0% | $2,727-12.9% |
| Participant deferral / active EE | $5,205 | $7,305-28.7% | $9,132-43.0% | $4,649+12.0% |
| Admin fee / account holder | $313 | $256+22.3% | $13,914-97.8% | $433-27.8% |