Filed September 25, 2024
| 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, LLP1 year Filed as: FORVIS MAZARS, LLP 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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $79,399 | $73,983+7.3% | $96,543-17.8% | $75,184+5.6% |
| Participation rate | 100.0% | 66.4%+33.6pp | 74.3%+25.7pp | 67.2%+32.8pp |
| Annual return | 14.86% | 26.73%-11.9pp | 35.75%-20.9pp | 160.78%-145.9pp |
| Employer contribution / active EE | $5,376 | $2,931+83.4% | $3,741+43.7% | $2,671+101.2% |
| Participant deferral / active EE | $1,811 | $3,661-50.5% | $4,880-62.9% | $4,127-56.1% |
| Admin fee / account holder | $624 | $5,218-88.0% | $6,737-90.7% | $5,652-89.0% |