Filed June 24, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 13-3689044 | Recordkeeping | $45,738 |
OSAIC WEALTH INC1 year Service code 22 · EIN 93-0987232 | Insurance Broker | $27,570 |
Filed as: ADMINISTRATIVE FIDUCIARY SERVICES I Service code 27 · EIN 46-2919997 | Advisory (Plan) | $4,393 |
NOVA 401(K) ASSOCIATES2 years Filed as: NOVA 401K ASSOCIATES LP Service code 15 · EIN 20-1181458 | Recordkeeping | $3,334 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $56,579 | $79,209-28.6% | $102,434-44.8% | $74,459-24.0% |
| Participation rate | 52.5% | 74.8%-22.2pp | 76.5%-24.0pp | 67.2%-14.7pp |
| Annual return | 16.94% | 54.98%-38.0pp | 29.46%-12.5pp | 1369.70%-1352.8pp |
| Employer contribution / active EE | $1,361 | $2,362-42.4% | $3,023-55.0% | $2,626-48.2% |
| Participant deferral / active EE | $2,376 | $4,417-46.2% | $5,055-53.0% | $4,350-45.4% |
| Admin fee / account holder | $498 | $2,002-75.1% | $9,462-94.7% | $1,945-74.4% |