Filed June 24, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 | Recordkeeping | $175 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $25,039 | $59,186-57.7% | $76,766-67.4% | $56,287-55.5% |
| Participation rate | 49.2% | 75.2%-26.0pp | 77.0%-27.8pp | 69.9%-20.7pp |
| Annual return | -6.34% | 6.62%-13.0pp | 2.43%-8.8pp | -9.96%+3.6pp |
| Employer contribution / active EE | $956 | $1,759-45.6% | $2,485-61.5% | $2,111-54.7% |
| Participant deferral / active EE | $1,270 | $3,255-61.0% | $3,851-67.0% | $3,350-62.1% |
| Admin fee / account holder | $37 | $489-92.5% | $6,675-99.5% | $521-93.0% |