Filed November 25, 2014
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $1,812 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,903 | $68,413-69.4% | $123,105-83.0% | $55,191-62.1% |
| Participation rate | 67.6% | 84.5%-16.9pp | 86.8%-19.1pp | 69.2%-1.5pp |
| Annual return | 1.11% | 6.30%-5.2pp | 13.22%-12.1pp | 10.78%-9.7pp |
| Employer contribution / active EE | $404 | $3,050-86.7% | $5,151-92.1% | $1,899-78.7% |
| Participant deferral / active EE | $3,738 | $4,490-16.7% | $6,229-40.0% | $3,046+22.7% |
| Admin fee / account holder | $132 | $88+50.1% | $9,014-98.5% | $91+45.2% |