Filed September 25, 2024
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| Provider | Service type | Compensation |
|---|---|---|
CERITY PARTNERS2 years Filed as: CERITY PARTNERS LLC Service code 27 · EIN 27-1180831 999 WATERSIDE DR., SUITE 1000 · NORFOLK, VA 23510 | Advisory (Plan) | $24,104 |
PBMARES, LLP9+ years Service code 10 · EIN 54-0737372 701 TOWN CENTER DR., SUITE 900 · NEWPORT NEWS, VA 23606 | Accounting | $17,369 |
FORVIS MAZARS, LLP1 year Service code 10 · EIN 44-0160260 440 MONTICELLO AVE., SUITE 2050 · NORFOLK, VA 23510 | Accounting | $16,275 |
USI CONSULTING GROUP1 year Filed as: USI INSURANCE Service code 22 500 WEST MONROE ST · CHICAGO, IL 60661 | Insurance Broker | $8,159 |
DAVENPORT & COMPANY LLC9+ years Filed as: DAVENPORT & COMPANY, INC. Service code 71 · EIN 54-1835842 5400 DISCOVER PARK BLVD. · WILLIAMSBURG, VA 23188 | Brokerage Fees | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $79,399 | $73,933+7.4% | $96,683-17.9% | $75,163+5.6% |
| Participation rate | 100.0% | 66.4%+33.6pp | 74.3%+25.7pp | 67.2%+32.8pp |
| Annual return | 14.86% | 26.70%-11.8pp | 35.69%-20.8pp | 160.62%-145.8pp |
| Employer contribution / active EE | $5,376 | $2,928+83.6% | $3,737+43.9% | $2,670+101.4% |
| Participant deferral / active EE | $1,811 | $3,659-50.5% | $4,878-62.9% | $4,125-56.1% |
| Admin fee / account holder | $624 | $5,216-88.0% | $6,730-90.7% | $5,651-89.0% |