Filed March 16, 2021 (most recent of 2 filings on file)
Total covered: 16 employees
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE4+ years Service code 54 · EIN 31-4156830 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Sales Loads | $15,313 |
Filed as: CBIZ FINANCIAL SOLUTIONS, INC. Service code 27 · EIN 52-1396995 DBA CBIZ RETIREMENT PLAN ADVISOR · CINCINNATI, OH 43215 | Advisory (Plan) | $12,133 |
MGKS4+ years Service code 15 · EIN 86-1001235 6530 N 16TH ST · PHOENIX, AZ 85016 | Recordkeeping | $7,956 |
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 | $13,488 | $44,873-69.9% | $79,466-83.0% | $56,287-76.0% |
| Participation rate | 53.8% | 68.7%-15.0pp | 73.3%-19.6pp | 69.9%-16.1pp |
| Annual return | -2.52% | 0.81%-3.3pp | 718.28%-720.8pp | -9.96%+7.4pp |
| Employer contribution / active EE | $223 | $2,140-89.6% | $2,800-92.0% | $2,111-89.4% |
| Participant deferral / active EE | $1,555 | $2,746-43.4% | $3,704-58.0% | $3,350-53.6% |
| Admin fee / account holder | $159 | $418-61.9% | $5,104-96.9% | $521-69.4% |