Filed January 2, 2018
Total covered: 2 employees
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.1 year Service code 13 · EIN 27-2037969 | Contract Administrator | $42,398 |
Service code 10 234 CHURCH STREET · NEW HAVEN, CT 06510 | Accounting | $19,000 |
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).
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 | $28,554 | $63,114-54.8% | $92,909-69.3% | $65,185-56.2% |
| Participation rate | 96.1% | 68.8%+27.3pp | 76.0%+20.1pp | 70.2%+25.9pp |
| Annual return | 3.29% | 28.75%-25.5pp | 109.44%-106.1pp | 29.38%-26.1pp |
| Employer contribution / active EE | $0 | $2,571-100.0% | $3,653-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $2,845 | $3,108-8.5% | $4,238-32.9% | $3,514-19.0% |
| Admin fee / account holder | $435 | $624-30.2% | $5,795-92.5% | $847-48.6% |