Filed January 16, 2020
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| Provider | Service type | Compensation |
|---|---|---|
MORGAN STANLEY SMITH BARNEY2+ years Service code 21 · EIN 13-1912900 | Bank Trustee | $15,685 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $45,896 | $23,385+96.3% | $69,182-33.7% | $57,658-20.4% |
| Participation rate | 12.8% | 37.9%-25.1pp | 55.1%-42.3pp | 70.2%-57.5pp |
| Annual return | 5.17% | -659.34%+664.5pp | -21.93%+27.1pp | 5.13%0pp |
| Employer contribution / active EE | $0 | $422-100.0% | $1,206-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $423 | $843-49.8% | $1,897-77.7% | $3,061-86.2% |
| Admin fee / account holder | $225 | $82+174.2% | $2,697-91.7% | $95+138.2% |