Filed March 11, 2020 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $141,741 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $43,441 |
Service code 49 · EIN 13-5674085 | Other Services | $6,951 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $16,278 | $44,989-63.8% | $170,435-90.4% | $77,958-79.1% |
| Participation rate | 31.4% | 64.6%-33.2pp | 83.6%-52.2pp | 71.6%-40.2pp |
| Annual return | 16.48% | 19.61%-3.1pp | 205.94%-189.5pp | 20.87%-4.4pp |
| Employer contribution / active EE | $350 | $1,466-76.1% | $5,432-93.6% | $2,310-84.8% |
| Participant deferral / active EE | $657 | $2,208-70.2% | $4,939-86.7% | $3,537-81.4% |
| Admin fee / account holder | $105 | $69+51.8% | $13,881-99.2% | $97+7.5% |