Filed September 8, 2020
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| Provider | Service type | Compensation |
|---|---|---|
RUANE, CUNNIFF & GOLDFARB INC.1+ years Service code 28 · EIN 13-2628641 | Investment Management | $140,700 |
NEWPORT GROUP, INC.1+ years Filed as: NEWPORT RETIREMENT SERVICES, INC. Service code 15 · EIN 62-1868111 | Recordkeeping | $62,487 |
NEWPORT GROUP, INC.1+ years Filed as: NEWPORT GROUP SECURITIES, INC. Service code 28 · EIN 59-3099288 | Investment Management | $17,232 |
WITHUMSMITH+BROWN, PC1+ years Filed as: MORRISON, BROWN, ARGIZ & FARRA, LLP Service code 10 · EIN 01-0720052 | Accounting | $11,500 |
CHARLES SCHWAB & CO., INC.1+ years Filed as: CHARLES SCHWAB TRUST COMPANY Service code 12 · EIN 42-1558009 | Account maintenance fees; Direct paym... | $10,167 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $46,239 | $44,229+4.5% | $155,789-70.3% | $55,191-16.2% |
| Participation rate | 96.0% | 60.8%+35.2pp | 76.1%+19.9pp | 69.2%+26.9pp |
| Annual return | -5.46% | 0.37%-5.8pp | 71.54%-77.0pp | 10.78%-16.2pp |
| Employer contribution / active EE | $648 | $1,317-50.8% | $3,839-83.1% | $1,899-65.9% |
| Participant deferral / active EE | $2,312 | $2,851-18.9% | $4,798-51.8% | $3,046-24.1% |
| Admin fee / account holder | $615 | $86+613.1% | $7,477-91.8% | $91+577.1% |