Filed March 2, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $2,075 |
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).
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 | $51,129 | $72,770-29.7% | $67,652-24.4% | $55,191-7.4% |
| Participation rate | 50.9% | 78.8%-27.9pp | 75.7%-24.7pp | 69.2%-18.2pp |
| Annual return | 4.28% | -3.26%+7.5pp | 6625.40%-6621.1pp | 10.78%-6.5pp |
| Employer contribution / active EE | $0 | $1,769-100.0% | $2,266-100.0% | $1,899-100.0% |
| Participant deferral / active EE | $5,969 | $3,408+75.1% | $3,560+67.7% | $3,046+95.9% |
| Admin fee / account holder | $5 | $79-93.3% | $4,821-99.9% | $91-94.2% |