Filed February 25, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 16-1503696 | Recordkeeping | $16,752 |
KOVACK SECURITIES INC6 years Filed as: KOVACK ADVISORS, INC. Service code 16 6451 NORTH FEDERAL HWY. · FT. LAUDERDALE, FL 33308 | Consulting | $16,625 |
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).
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 | $7,814 | $66,004-88.2% | $81,820-90.5% | $77,714-89.9% |
| Participation rate | 94.5% | 65.8%+28.7pp | 72.4%+22.1pp | 70.6%+23.9pp |
| Annual return | 14.59% | 26.65%-12.1pp | 777.93%-763.3pp | 31.26%-16.7pp |
| Employer contribution / active EE | $655 | $2,375-72.4% | $2,915-77.5% | $2,727-76.0% |
| Participant deferral / active EE | $1,095 | $3,508-68.8% | $4,323-74.7% | $4,649-76.5% |
| Admin fee / account holder | $90 | $527-82.8% | $7,391-98.8% | $433-79.1% |