Filed September 25, 2024
| Provider | Service type | Compensation |
|---|---|---|
PALLADIUM PARTNERS4+ years Service code 27 · EIN 26-0728851 999 WATERSIDE DR., SUITE 1000 · NORFOLK, VA 23510 | Advisory (Plan) | $28,507 |
DAVENPORT & COMPANY LLC4+ years Filed as: DAVENPORT & COMPANY, INC. Service code 71 · EIN 54-1835842 5400 DISCOVER PARK BLVD. · WILLIAMSBURG, VA 23188 | Brokerage Fees | $18,194 |
BKD, LLP4+ years Filed as: DIXON HUGHES GOODMAN, LLP Service code 10 · EIN 56-0747981 440 MONTICELLO AVE., SUITE 1400 · NORFOLK, VA 23510 | Accounting | $11,400 |
PBMARES, LLP4+ years Service code 10 · EIN 54-0737372 701 TOWN CENTER DR., SUITE 900 · NEWPORT NEWS, VA 23606 | Accounting | $10,430 |
WELLS FARGO BANK, N.A.4+ years Filed as: WELLS FARGO INSURANCE SERVICES USA Service code 22 1014 VINE ST., SUITE 1100 · CINCINNATI, OH 45202 | Insurance Broker | $7,026 |
VANDEVENTER BLACK, LLP4+ years Service code 29 101 WEST MAIN ST., SUITE 500 · NORFOLK, VA 23510 | Legal | $5,800 |
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 | $79,706 | $57,352+39.0% | $83,831-4.9% | $64,173+24.2% |
| Participation rate | 100.0% | 68.6%+31.4pp | 76.1%+23.9pp | 69.6%+30.4pp |
| Annual return | -4.31% | 11.38%-15.7pp | 850.99%-855.3pp | 7.63%-11.9pp |
| Employer contribution / active EE | $4,641 | $2,546+82.3% | $3,631+27.8% | $2,381+94.9% |
| Participant deferral / active EE | $2,439 | $2,993-18.5% | $4,082-40.2% | $3,470-29.7% |
| Admin fee / account holder | $601 | $4,046-85.2% | $5,479-89.0% | $4,887-87.7% |