Filed September 17, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $24,094 |
Service code 17 · EIN 13-5674085 | Pension Consulting | $16,352 |
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
Opinion is qualified - a specific issue limited the scope or accuracy of the audit.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $51,904 | $59,006-12.0% | $97,295-46.7% | $74,478-30.3% |
| Participation rate | 71.2% | 63.7%+7.5pp | 72.7%-1.4pp | 67.2%+4.0pp |
| Annual return | 10.07% | 16.04%-6.0pp | 75.62%-65.5pp | 1370.56%-1360.5pp |
| Employer contribution / active EE | $796 | $1,894-58.0% | $2,723-70.8% | $2,626-69.7% |
| Participant deferral / active EE | $4,658 | $3,671+26.9% | $4,264+9.2% | $4,350+7.1% |
| Admin fee / account holder | $389 | $1,974-80.3% | $5,646-93.1% | $1,946-80.0% |