Filed April 19, 2022
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER3+ years Filed as: ADP, LLC Service code 37 · EIN 13-3036745 | Loan Processing | $380 |
ADP BROKER-DEALER3+ years Service code 59 · EIN 22-3319984 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $63,280 | $63,156+0.2% | $122,354-48.3% | $62,293+1.6% |
| Participation rate | 33.3% | 60.0%-26.7pp | 71.6%-38.3pp | 69.5%-36.2pp |
| Annual return | 16.89% | 20.61%-3.7pp | 30.28%-13.4pp | 28.90%-12.0pp |
| Employer contribution / active EE | $551 | $1,385-60.2% | $4,051-86.4% | $2,042-73.0% |
| Participant deferral / active EE | $1,414 | $2,321-39.1% | $3,287-57.0% | $3,169-55.4% |
| Admin fee / account holder | $4 | $440-99.0% | $5,479-99.9% | $479-99.1% |