Filed September 9, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $29,473 |
BXS INSURANCE INC2 years Service code 49 · EIN 72-1381997 | Other Services | $7,846 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
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.)
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $54,480 | $30,555+78.3% | $80,784-32.6% | $86,821-37.3% |
| Participation rate | 15.8% | 37.2%-21.5pp | 54.2%-38.4pp | 72.3%-56.5pp |
| Annual return | 14.04% | 30.35%-16.3pp | 87.31%-73.3pp | 97.94%-83.9pp |
| Employer contribution / active EE | $422 | $472-10.6% | $1,160-63.6% | $2,406-82.4% |
| Participant deferral / active EE | $624 | $1,050-40.5% | $2,145-70.9% | $4,132-84.9% |
| Admin fee / account holder | $447 | $135+229.6% | $3,380-86.8% | $170+163.3% |