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 |
Filed as: BPAS TRUST COMPANY OF PUERTO RICO Service code 19 · EIN 66-0795542 | Securities Custodian | $5,316 |
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 | $49,796-84.3% | $136,867-94.3% | $69,255-88.7% |
| Participation rate | 96.7% | 62.1%+34.7pp | 74.5%+22.2pp | 69.0%+27.7pp |
| Annual return | 10.18% | 12.45%-2.3pp | 42.97%-32.8pp | 26.73%-16.6pp |
| Employer contribution / active EE | $612 | $2,044-70.0% | $3,547-82.7% | $2,645-76.9% |
| Participant deferral / active EE | $1,030 | $2,062-50.1% | $4,924-79.1% | $2,890-64.4% |
| Admin fee / account holder | $88 | $484-81.7% | $10,340-99.1% | $733-87.9% |