Filed October 24, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: NORTHWESTERN MUTUAL WEALTH MANAGEME Service code 99 · EIN 39-2018056 | Other Fees | $9,605 |
LPL FINANCIAL1 year Filed as: LPL FINANCIAL CORPORATION Service code 99 · EIN 04-3046611 | Other Fees | $7,920 |
Service code 26 · EIN 71-0294708 | Advisory (Participants) | $2,353 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $58,938 | $88,083-33.1% | $164,813-64.2% | $74,495-20.9% |
| Participation rate | 36.1% | 73.0%-36.9pp | 78.6%-42.5pp | 67.2%-31.1pp |
| Annual return | 12.59% | 17.26%-4.7pp | 69.93%-57.3pp | 1364.94%-1352.4pp |
| Employer contribution / active EE | $466 | $2,593-82.0% | $4,341-89.3% | $2,623-82.2% |
| Participant deferral / active EE | $2,329 | $4,498-48.2% | $6,031-61.4% | $4,346-46.4% |
| Admin fee / account holder | $36 | $2,234-98.4% | $12,690-99.7% | $1,942-98.1% |