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| Provider | Service type | Compensation |
|---|---|---|
MY BENEFITS, LLC2+ years Filed as: HR BENEFITS INC Service code 13 1595 NW GILMAN BLVD · ISSAQUAH, WA 98027 | Contract Administrator | $198,141 |
NWPS2+ years Service code 15 · EIN 91-2090931 15130 MAIN STREET · MILL CREEK, WA 98012 | Recordkeeping | $24,421 |
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.
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $49,266 | $115,744-57.4% | $100,415-50.9% | $200,096-75.4% |
| Participation rate | 52.8% | 85.7%-32.9pp | 81.5%-28.7pp | 72.0%-19.2pp |
| Annual return | 14.60% | 17.79%-3.2pp | 49.47%-34.9pp | 34.26%-19.7pp |
| Employer contribution / active EE | $1,064 | $3,657-70.9% | $3,943-73.0% | $3,038-65.0% |
| Participant deferral / active EE | $6,483 | $9,844-34.1% | $8,091-19.9% | $5,090+27.4% |
| Admin fee / account holder | $123 | $93+32.8% | $7,906-98.4% | $269-54.2% |