Filed October 5, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: AMERIPRISE FINANCIAL SERVICES Service code 26 70100 AMERIPRISE FINANCIAL CENTER · MINNEAPOLIS, MN 55474 | Advisory (Participants) | $100,591 |
DAILYACCESS CORPORATION1+ years Filed as: DAILYACCESS CORP Service code 15 · EIN 63-1156117 | Recordkeeping | $35,246 |
INTERSERV, LLC1+ years Service code 27 · EIN 51-6000279 307 UNIVERSITY BLVD. NORTH · MOBILE, AL 36688 | Advisory (Plan) | $22,547 |
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $185,465 | $70,002+164.9% | $115,038+61.2% | $52,331+254.4% |
| Participation rate | 85.2% | 72.1%+13.0pp | 81.4%+3.8pp | 68.1%+17.0pp |
| Annual return | 0.82% | 4.04%-3.2pp | 26.14%-25.3pp | 4.54%-3.7pp |
| Employer contribution / active EE | $10,424 | $2,715+284.0% | $4,608+126.2% | $1,882+454.0% |
| Participant deferral / active EE | $5,144 | $4,920+4.5% | $6,026-14.7% | $3,022+70.2% |
| Admin fee / account holder | $710 | $566+25.5% | $8,175-91.3% | $592+20.1% |