Filed September 25, 2024
| Provider | Service type | Compensation |
|---|---|---|
PALLADIUM PARTNERS2+ years Service code 27 · EIN 26-0728851 999 WATERSIDE DR., SUITE 1000 · NORFOLK, VA 23510 | Advisory (Plan) | $26,490 |
DAVENPORT & COMPANY LLC2+ years Filed as: DAVENPORT & COMPANY, INC. Service code 71 · EIN 54-1835842 5400 DISCOVER PARK BLVD. · WILLIAMSBURG, VA 23188 | Brokerage Fees | $12,975 |
PBMARES, LLP2+ years Service code 10 · EIN 54-0737372 701 TOWN CENTER DR., SUITE 900 · NEWPORT NEWS, VA 23606 | Accounting | $11,826 |
BKD, LLP2+ years Filed as: DIXON HUGHES GOODMAN, LLP Service code 10 · EIN 56-0747981 701 TOWN CENTER DR., SUITE 700 · NEWPORT NEWS, VA 23606 | Accounting | $9,700 |
WELLS FARGO BANK, N.A.2+ years Filed as: WELLS FARGO INSURANCE SERVICES USA Service code 22 1014 VINE ST., SUITE 1100 · CINCINNATI, OH 45202 | Insurance Broker | $6,951 |
VANDEVENTER BLACK, LLP2+ years Service code 29 101 WEST MAIN ST., SUITE 500 · NORFOLK, VA 23510 | Legal | $6,048 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $85,154 | $56,894+49.7% | $84,753+0.5% | $62,881+35.4% |
| Participation rate | 100.0% | 68.5%+31.5pp | 76.6%+23.4pp | 69.3%+30.7pp |
| Annual return | 6.65% | 6.30%+0.4pp | 22.78%-16.1pp | 20.14%-13.5pp |
| Employer contribution / active EE | $4,438 | $2,400+84.9% | $3,574+24.2% | $2,281+94.6% |
| Participant deferral / active EE | $1,983 | $2,709-26.8% | $3,712-46.6% | $3,203-38.1% |
| Admin fee / account holder | $596 | $3,581-83.3% | $5,333-88.8% | $4,296-86.1% |