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| Provider | Service type | Compensation |
|---|---|---|
EPIC RETIREMENT PLAN SERVICES3+ years Filed as: MACATAWA BANK - RETIREMENT PLAN SER Service code 15 · EIN 38-3378283 10753 MACATAWA DR · HOLLAND, MI 49424 | Recordkeeping | $23,447 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $13,673 | $70,917-80.7% | $98,920-86.2% | $73,493-81.4% |
| Participation rate | 85.0% | 73.8%+11.2pp | 76.0%+9.0pp | 70.7%+14.3pp |
| Annual return | 29.99% | 34.18%-4.2pp | 196.47%-166.5pp | 28.51%+1.5pp |
| Employer contribution / active EE | $410 | $2,037-79.9% | $2,689-84.7% | $2,270-81.9% |
| Participant deferral / active EE | $2,354 | $3,501-32.8% | $4,245-44.6% | $3,740-37.1% |
| Admin fee / account holder | $89 | $535-83.4% | $6,643-98.7% | $513-82.7% |