Filed July 31, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 59-2937883 | Advisory (Plan) | $9,021 |
Filed as: FIDELITY WORKPLACE SERVICES LLC Service code 14 · EIN 04-3532603 | Plan Administrator | $3,610 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $18,106 | $66,459-72.8% | $81,286-77.7% | $77,714-76.7% |
| Participation rate | 49.7% | 68.7%-19.0pp | 69.5%-19.8pp | 70.6%-20.9pp |
| Annual return | 55.05% | 15.95%+39.1pp | 24.80%+30.3pp | 31.26%+23.8pp |
| Employer contribution / active EE | $1,861 | $2,156-13.7% | $2,463-24.5% | $2,727-31.8% |
| Participant deferral / active EE | $3,191 | $3,674-13.2% | $3,883-17.8% | $4,649-31.4% |
| Admin fee / account holder | $65 | $585-89.0% | $5,764-98.9% | $433-85.1% |