Filed December 22, 2020
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER4+ years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $29,387 |
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS FINANCIAL NETW Service code 15 · EIN 48-1305000 | Recordkeeping | $19,208 |
ADP BROKER-DEALER4+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $35,484 | $81,358-56.4% | $155,556-77.2% | $80,959-56.2% |
| Participation rate | 87.8% | 66.3%+21.5pp | 78.2%+9.5pp | 67.7%+20.1pp |
| Annual return | 13.29% | 33.39%-20.1pp | 64.84%-51.5pp | 35.67%-22.4pp |
| Employer contribution / active EE | $0 | $3,106-100.0% | $4,675-100.0% | $2,757-100.0% |
| Participant deferral / active EE | $5,420 | $3,455+56.8% | $5,631-3.8% | $4,300+26.0% |
| Admin fee / account holder | $415 | $7,994-94.8% | $15,885-97.4% | $6,925-94.0% |