Filed September 25, 2024
| Provider | Service type | Compensation |
|---|---|---|
PALLADIUM PARTNERS3+ years Service code 27 · EIN 26-0728851 999 WATERSIDE DR., SUITE 1000 · NORFOLK, VA 23510 | Advisory (Plan) | $27,035 |
PBMARES, LLP3+ years Service code 10 · EIN 54-0737372 701 TOWN CENTER DR., SUITE 900 · NEWPORT NEWS, VA 23606 | Accounting | $10,472 |
BKD, LLP3+ years Filed as: DIXON HUGHES GOODMAN, LLP Service code 10 · EIN 56-0747981 701 TOWN CENTER DR., SUITE 700 · NEWPORT NEWS, VA 23606 | Accounting | $10,100 |
WELLS FARGO BANK, N.A.3+ 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, LLP3+ years Service code 29 101 WEST MAIN ST., SUITE 500 · NORFOLK, VA 23510 | Legal | $6,171 |
DAVENPORT & COMPANY LLC3+ years Filed as: DAVENPORT & COMPANY, INC. Service code 71 · EIN 54-1835842 5400 DISCOVER PARK BLVD. · WILLIAMSBURG, VA 23188 | Brokerage Fees | $6,074 |
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 | $96,668 | $63,346+52.6% | $92,240+4.8% | $70,126+37.8% |
| Participation rate | 100.0% | 68.7%+31.3pp | 76.5%+23.5pp | 69.5%+30.5pp |
| Annual return | 13.77% | 530.19%-516.4pp | 176.29%-162.5pp | 73.15%-59.4pp |
| Employer contribution / active EE | $4,506 | $2,471+82.3% | $3,680+22.5% | $2,343+92.4% |
| Participant deferral / active EE | $2,329 | $2,854-18.4% | $3,897-40.2% | $3,332-30.1% |
| Admin fee / account holder | $664 | $3,841-82.7% | $5,194-87.2% | $4,646-85.7% |