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| Provider | Service type | Compensation |
|---|---|---|
MACATAWA BANK1 year Service code 15 · EIN 38-3378283 | Recordkeeping | $24,890 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,478 | $71,526-72.8% | $98,450-80.2% | $71,495-72.8% |
| Participation rate | 88.0% | 72.7%+15.3pp | 75.2%+12.9pp | 67.9%+20.1pp |
| Annual return | 25.99% | 32.42%-6.4pp | 21.16%+4.8pp | 28.85%-2.9pp |
| Employer contribution / active EE | $636 | $2,400-73.5% | $3,049-79.1% | $2,589-75.4% |
| Participant deferral / active EE | $3,780 | $4,110-8.0% | $4,739-20.2% | $4,291-11.9% |
| Admin fee / account holder | $98 | $1,675-94.2% | $8,961-98.9% | $1,588-93.8% |