Filed August 18, 2020
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| Provider | Service type | Compensation |
|---|---|---|
REGIONS BANK2+ years Service code 27 · EIN 63-0589368 | Advisory (Plan) | $15,688 |
NATIONWIDE2+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $13,120 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return 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).
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 | $29,532 | $42,546-30.6% | $71,796-58.9% | $55,167-46.5% |
| Participation rate | 52.9% | 59.1%-6.2pp | 69.1%-16.2pp | 69.0%-16.1pp |
| Annual return | 4.92% | 12.36%-7.4pp | 78.04%-73.1pp | 169.23%-164.3pp |
| Employer contribution / active EE | $325 | $803-59.6% | $1,924-83.1% | $1,963-83.5% |
| Participant deferral / active EE | $1,856 | $2,064-10.1% | $2,794-33.6% | $3,054-39.2% |
| Admin fee / account holder | $257 | $650-60.5% | $4,815-94.7% | $504-49.1% |