Filed May 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Service code 25 · EIN 04-2647786 | Directed Trustee | $208,574 |
Filed as: MJM401K LLC Service code 16 · EIN 86-0882983 | Consulting | $44,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Form 5500 reported that benefits due were not provided when due.
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 | $22,353 | $33,780-33.8% | $74,552-70.0% | $75,289-70.3% |
| Participation rate | 42.5% | 62.7%-20.2pp | 69.1%-26.6pp | 72.4%-29.9pp |
| Annual return | -16.58% | -1.24%-15.3pp | 32.53%-49.1pp | -0.04%-16.5pp |
| Employer contribution / active EE | $422 | $845-50.0% | $1,961-78.5% | $2,405-82.4% |
| Participant deferral / active EE | $1,735 | $1,890-8.2% | $3,108-44.2% | $3,739-53.6% |
| Admin fee / account holder | $94 | $86+9.2% | $5,060-98.1% | $102-7.9% |