Filed February 25, 2021
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| Provider | Service type | Compensation |
|---|---|---|
KOVACK SECURITIES INC1 year Filed as: KOVACK ADVISORS, INC. Service code 16 6451 NORTH FEDERAL HWY. · FT. LAUDERDALE, FL 33308 | Consulting | $4,890 |
Service code 15 · EIN 16-1503696 | Recordkeeping | $3,263 |
BPAS1 year Filed as: BPAS TRUST COMPANY OF PUERTO RICO Service code 21 · EIN 66-0795542 | Bank Trustee | $1,223 |
UBS FINANCIAL SERVICES INC4+ years Filed as: UBS TRUST COMPANY OF PUERTO RICO Service code 21 · EIN 66-0532499 | Bank Trustee | $180 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,451 | $51,620-85.6% | $90,324-91.8% | $65,186-88.6% |
| Participation rate | 89.7% | 68.6%+21.0pp | 73.3%+16.4pp | 70.2%+19.5pp |
| Annual return | 5.72% | 24.94%-19.2pp | 78.15%-72.4pp | 29.39%-23.7pp |
| Employer contribution / active EE | $373 | $2,235-83.3% | $2,856-86.9% | $2,177-82.8% |
| Participant deferral / active EE | $869 | $2,871-69.7% | $3,885-77.6% | $3,514-75.3% |
| Admin fee / account holder | $53 | $384-86.3% | $5,356-99.0% | $847-93.8% |