Filed January 12, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 35-0145825 | Recordkeeping | $30,224 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,788 | $64,138-67.6% | $112,258-81.5% | $66,930-68.9% |
| Participation rate | 53.7% | 68.5%-14.8pp | 75.1%-21.4pp | 69.8%-16.1pp |
| Annual return | -13.00% | -13.81%+0.8pp | 27.47%-40.5pp | 1.57%-14.6pp |
| Employer contribution / active EE | $900 | $3,006-70.1% | $3,636-75.2% | $2,545-64.6% |
| Participant deferral / active EE | $2,632 | $3,694-28.7% | $4,728-44.3% | $4,238-37.9% |
| Admin fee / account holder | $45 | $625-92.8% | $6,411-99.3% | $593-92.4% |