Filed April 8, 2016 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
TRUSTMARK NATIONAL BANK2 years Service code 27 PO BOX 291 · JACKSON, MS 392050291 | Advisory (Plan) | $18,771 |
THE VANGUARD GROUP, INC.2 years Service code 15 · EIN 23-1945930 | Recordkeeping | $17,405 |
Filed as: REYNOLDS BONE & GRIESBECK PLC Service code 10 5100 WHEELIS DR · MEMPHIS, TN 38117 | Accounting | $10,000 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $35,744 | $87,870-59.3% | $113,168-68.4% | $74,304-51.9% |
| Participation rate | 51.6% | 70.7%-19.2pp | 76.6%-25.0pp | 60.3%-8.8pp |
| Annual return | 4.56% | 26.44%-21.9pp | 24.27%-19.7pp | 29.43%-24.9pp |
| Employer contribution / active EE | $363 | $2,277-84.0% | $2,975-87.8% | $2,241-83.8% |
| Participant deferral / active EE | $1,867 | $4,241-56.0% | $5,107-63.4% | $3,767-50.5% |
| Admin fee / account holder | $350 | $3,368-89.6% | $12,068-97.1% | $2,969-88.2% |