Filed November 25, 2019
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: GALLAGHER BENEFIT SERVICES Service code 15 · EIN 36-4291971 | Recordkeeping | $20,014 |
ADP BROKER-DEALER5 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $18,917 |
DUFEK & COMPANY LLC7+ years Service code 15 · EIN 27-1515696 | Recordkeeping | $7,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $53,120 | $102,429-48.1% | $147,096-63.9% | $80,925-34.4% |
| Participation rate | 58.8% | 75.9%-17.1pp | 82.2%-23.4pp | 67.7%-8.9pp |
| Annual return | 13.78% | 135.02%-121.2pp | 419.75%-406.0pp | 35.65%-21.9pp |
| Employer contribution / active EE | $2,345 | $3,716-36.9% | $4,936-52.5% | $2,756-14.9% |
| Participant deferral / active EE | $7,549 | $6,649+13.5% | $8,071-6.5% | $4,299+75.6% |
| Admin fee / account holder | $303 | $7,957-96.2% | $13,005-97.7% | $6,940-95.6% |