Filed October 11, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MEEDER ADVISORY SERVICES, INC. Service code 26 · EIN 31-1332744 | Advisory (Participants) | $18,457 |
Filed as: NORTH AMERICAN KTRADE ALLIANCE LLC Service code 10 · EIN 32-0169227 | Accounting | $11,310 |
Service code 10 8700 INDIAN CREEK PKWY, SUITE 185 · OVERLAND PARK, KS 66210 | Accounting | $5,850 |
Service code 15 · EIN 13-3689044 | Recordkeeping | $5,425 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $20,540 | $124,414-83.5% | $115,170-82.2% | $67,579-69.6% |
| Participation rate | 34.3% | 58.1%-23.8pp | 75.9%-41.6pp | 71.3%-37.0pp |
| Annual return | 19.81% | 29.40%-9.6pp | 35.60%-15.8pp | 378.56%-358.7pp |
| Employer contribution / active EE | $718 | $1,454-50.7% | $3,179-77.4% | $2,148-66.6% |
| Participant deferral / active EE | $1,215 | $2,331-47.8% | $4,169-70.8% | $3,539-65.7% |
| Admin fee / account holder | $217 | $361-40.0% | $7,089-96.9% | $142+52.5% |