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 | $175,670 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $52,484 |
Service code 49 · EIN 13-5674085 | Other Services | $8,398 |
Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,934 | $45,382-75.9% | $154,108-92.9% | $75,289-85.5% |
| Participation rate | 49.2% | 65.9%-16.7pp | 83.0%-33.8pp | 72.4%-23.2pp |
| Annual return | -5.63% | -0.47%-5.2pp | 735.21%-740.8pp | -0.04%-5.6pp |
| Employer contribution / active EE | $245 | $1,533-84.0% | $5,298-95.4% | $2,405-89.8% |
| Participant deferral / active EE | $813 | $2,384-65.9% | $5,081-84.0% | $3,739-78.2% |
| Admin fee / account holder | $84 | $89-5.5% | $13,411-99.4% | $102-17.5% |