Filed April 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
EDWARD JONES5+ years Filed as: EDWARD D. JONES & CO., L.P. Service code 26 · EIN 43-0345811 | Advisory (Participants) | $9,702 |
Service code 15 · EIN 01-0233346 | Recordkeeping | $4,859 |
WILSHIRE ASSOCIATES INCORPORATED5+ years Filed as: WILSHIRE ASSOCIATES INC Service code 26 · EIN 95-2755361 | Advisory (Participants) | $776 |
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.)
Annual investment return is in the bottom quintile of the peer cohort.
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).
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 | $26,559 | $59,467-55.3% | $93,727-71.7% | $74,478-64.3% |
| Participation rate | 62.1% | 59.6%+2.4pp | 68.7%-6.7pp | 67.2%-5.2pp |
| Annual return | 10.21% | 82.14%-71.9pp | 133.83%-123.6pp | 1370.56%-1360.4pp |
| Employer contribution / active EE | $0 | $1,267-100.0% | $2,421-100.0% | $2,626-100.0% |
| Participant deferral / active EE | $2,838 | $3,052-7.0% | $4,417-35.7% | $4,350-34.8% |
| Admin fee / account holder | $356 | $3,028-88.2% | $8,292-95.7% | $1,946-81.7% |