Filed January 13, 2017
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| Provider | Service type | Compensation |
|---|---|---|
REGIONS BANK2 years Filed as: REGIONS BANK DBA REGIONS TRUST Service code 15 · EIN 63-0371391 | Recordkeeping | $18,943 |
ADP BROKER-DEALER3 years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $14,939 |
ADP BROKER-DEALER4+ years Service code 59 · EIN 22-3319984 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $20,206 | $43,999-54.1% | $79,467-74.6% | $55,725-63.7% |
| Participation rate | 30.9% | 66.9%-36.0pp | 73.3%-42.4pp | 70.9%-39.9pp |
| Annual return | -5.63% | 1.81%-7.4pp | 718.30%-723.9pp | 244.93%-250.6pp |
| Employer contribution / active EE | $342 | $1,830-81.3% | $2,800-87.8% | $2,078-83.5% |
| Participant deferral / active EE | $951 | $2,538-62.5% | $3,704-74.3% | $3,356-71.7% |
| Admin fee / account holder | $135 | $118+14.8% | $5,104-97.4% | $115+17.2% |