Filed April 5, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 13-3689044 | Recordkeeping | $41,434 |
THE BANK OF NEW YORK MELLON2 years Filed as: BANK OF AMERICA NA Service code 27 · EIN 13-5674085 | Advisory (Plan) | $31,422 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $57,496 | $84,493-32.0% | $125,381-54.1% | $66,938-14.1% |
| Participation rate | 93.2% | 76.4%+16.8pp | 82.4%+10.8pp | 69.8%+23.4pp |
| Annual return | -15.15% | -8.49%-6.7pp | 572.31%-587.5pp | 1.58%-16.7pp |
| Employer contribution / active EE | $4,088 | $3,554+15.0% | $4,815-15.1% | $2,545+60.6% |
| Participant deferral / active EE | $10,915 | $6,783+60.9% | $7,448+46.6% | $4,238+157.5% |
| Admin fee / account holder | $327 | $685-52.3% | $10,007-96.7% | $594-45.0% |