Filed February 25, 2021
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| Provider | Service type | Compensation |
|---|---|---|
KOVACK SECURITIES INC7 years Filed as: KOVACK ADVISORS, INC. Service code 16 6451 NORTH FEDERAL HWY. · FT. LAUDERDALE, FL 33308 | Consulting | $21,264 |
BENEFIT PLANS ADMIN SERVICES, INC.10+ years Service code 15 · EIN 16-1503696 | Recordkeeping | $17,931 |
BPAS7 years Filed as: BPAS TRUST COMPANY OF PUERTO RICO Service code 19 · EIN 66-0795542 | Securities Custodian | $5,316 |
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $7,794 | $39,766-80.4% | $66,674-88.3% | $71,012-89.0% |
| Participation rate | 96.7% | 47.7%+49.1pp | 73.7%+23.1pp | 58.6%+38.2pp |
| Annual return | 10.18% | 181.39%-171.2pp | 321.24%-311.1pp | 37.67%-27.5pp |
| Employer contribution / active EE | $612 | $1,503-59.3% | $2,620-76.6% | $2,348-73.9% |
| Participant deferral / active EE | $1,030 | $1,868-44.9% | $4,084-74.8% | $3,246-68.3% |
| Admin fee / account holder | $88 | $1,097-91.9% | $5,098-98.3% | $1,167-92.4% |