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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH PIERCE FENNER SMITH I Service code 27 · EIN 13-5674085 | Advisory (Plan) | $17,308 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
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 | $72,512 | $54,729+32.5% | $86,235-15.9% | $71,529+1.4% |
| Participation rate | 52.8% | 60.1%-7.3pp | 69.0%-16.1pp | 67.9%-15.1pp |
| Annual return | 9.47% | 20.07%-10.6pp | 1170.03%-1160.6pp | 28.97%-19.5pp |
| Employer contribution / active EE | $559 | $1,267-55.9% | $2,381-76.5% | $2,590-78.4% |
| Participant deferral / active EE | $3,139 | $3,110+0.9% | $3,987-21.3% | $4,291-26.9% |
| Admin fee / account holder | $476 | $1,921-75.2% | $6,856-93.1% | $1,588-70.0% |