Filed February 13, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 04-2675571 | Advisory (Plan) | $235,864 |
Service code 15 · EIN 35-0472300 P.O. BOX 7877 · FORT WAYNE, IN 46802 | Recordkeeping | $77,461 |
CARON & BLETZER, PLLC1 year Service code 10 · EIN 04-3499945 | Accounting | $9,750 |
Service code 15 · EIN 01-0233346 | Recordkeeping | $1,780 |
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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $60,593 | $47,180+28.4% | $149,723-59.5% | $74,473-18.6% |
| Participation rate | 54.8% | 63.4%-8.6pp | 78.8%-24.0pp | 70.7%-15.9pp |
| Annual return | 20.26% | 22.75%-2.5pp | 134.50%-114.2pp | 34.36%-14.1pp |
| Employer contribution / active EE | $1,725 | $1,907-9.5% | $4,821-64.2% | $2,638-34.6% |
| Participant deferral / active EE | $3,633 | $2,730+33.1% | $5,682-36.1% | $4,530-19.8% |
| Admin fee / account holder | $540 | $343+57.4% | $13,215-95.9% | $347+55.6% |