Filed September 8, 2020
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.1 year Service code 15 · EIN 27-2037969 | Recordkeeping | $63,988 |
RUANE, CUNNIFF & GOLDFARB INC.2+ years Service code 28 · EIN 13-2628641 | Investment Management | $59,072 |
NEWPORT GROUP, INC.2+ years Filed as: NEWPORT GROUP SECURITIES, INC. Service code 28 · EIN 59-3099288 | Investment Management | $23,709 |
Filed as: CHARLES SCHWAB BANK Service code 12 · EIN 42-1558009 | Direct payment from the plan; Claims ... | $14,005 |
WITHUMSMITH+BROWN, PC2+ years Filed as: MORRISON, BROWN, ARGIZ & FARRA, LLP Service code 10 · EIN 01-0720052 | Accounting | $11,500 |
NEWPORT GROUP, INC.1 year Filed as: NEWPORT TRUST COMPANY Service code 19 · EIN 27-4411131 | Securities Custodian | $8,889 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $46,923 | $42,582+10.2% | $171,082-72.6% | $57,658-18.6% |
| Participation rate | 95.4% | 63.9%+31.5pp | 76.7%+18.7pp | 70.2%+25.2pp |
| Annual return | -1.31% | 308.67%-310.0pp | 32.56%-33.9pp | 5.13%-6.4pp |
| Employer contribution / active EE | $656 | $1,306-49.8% | $4,002-83.6% | $1,974-66.8% |
| Participant deferral / active EE | $2,436 | $2,933-17.0% | $4,797-49.2% | $3,061-20.4% |
| Admin fee / account holder | $442 | $82+436.3% | $8,520-94.8% | $95+367.1% |