Filed January 19, 2016
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| Provider | Service type | Compensation |
|---|---|---|
Service code 64 · EIN 84-0467907 | Recordkeeping Fees | $41,406 |
Filed as: RAYMOND JAMES INSURANCE GROUP, INC. Service code 27 880 CARILLON PKWY · ST PETERSBERG, FL 33716 | Advisory (Plan) | $27,343 |
NOVA 401(K) ASSOCIATES3 years Service code 13 · EIN 20-1181458 10777 NORTHWEST FREEWAY · HOUSTON, TX 77092 | Contract Administrator | $6,062 |
Service code 15 · EIN 01-0233346 | Recordkeeping | $2,476 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $52,715 | $55,449-4.9% | $83,831-37.1% | $56,289-6.3% |
| Participation rate | 78.3% | 68.0%+10.3pp | 76.1%+2.1pp | 69.9%+8.4pp |
| Annual return | -7.37% | -1.38%-6.0pp | 850.99%-858.4pp | -9.96%+2.6pp |
| Employer contribution / active EE | $1,133 | $2,430-53.4% | $3,631-68.8% | $2,111-46.3% |
| Participant deferral / active EE | $2,942 | $2,935+0.2% | $4,082-27.9% | $3,350-12.2% |
| Admin fee / account holder | $380 | $656-42.1% | $5,479-93.1% | $521-27.1% |