Filed September 17, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Service code 64 · EIN 39-6040276 | Recordkeeping Fees | $2,500 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $51,768 | $86,341-40.0% | $125,195-58.7% | $65,186-20.6% |
| Participation rate | 44.6% | 75.3%-30.7pp | 79.8%-35.1pp | 70.2%-25.6pp |
| Annual return | 17.65% | 27.44%-9.8pp | 43.79%-26.1pp | 29.39%-11.7pp |
| Employer contribution / active EE | $380 | $2,040-81.4% | $3,866-90.2% | $2,177-82.5% |
| Participant deferral / active EE | $2,249 | $3,538-36.4% | $4,937-54.4% | $3,514-36.0% |
| Admin fee / account holder | $57 | $609-90.7% | $9,704-99.4% | $847-93.3% |