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) | $102,595 |
NEWPORT GROUP, INC.1 year Service code 15 · EIN 27-2037969 | Recordkeeping | $47,759 |
INTERSERV, LLC2+ years Service code 27 · EIN 51-6000279 307 UNIVERSITY BLVD. NORTH · MOBILE, AL 36688 | Advisory (Plan) | $22,708 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $192,148 | $75,183+155.6% | $123,894+55.1% | $55,167+248.3% |
| Participation rate | 81.7% | 72.8%+8.8pp | 81.4%+0.3pp | 69.0%+12.7pp |
| Annual return | 3.95% | 19.01%-15.1pp | 47.52%-43.6pp | 169.23%-165.3pp |
| Employer contribution / active EE | $10,184 | $2,823+260.7% | $4,617+120.6% | $1,963+418.9% |
| Participant deferral / active EE | $5,103 | $5,084+0.4% | $5,984-14.7% | $3,054+67.1% |
| Admin fee / account holder | $766 | $663+15.6% | $8,357-90.8% | $504+52.0% |