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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 04-1590850 1295 STATE ST. · SPRINGFIELD, MA 011110001 | Recordkeeping | $10,573 |
Filed as: MERRILL LYNCH PIERCE FENNER SMITH Service code 26 · EIN 13-5674085 1400 MERRILL LYNCH DR. · PENNINGTON, NJ 08534 | Advisory (Participants) | $5,794 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $43,691 | $55,636-21.5% | $81,988-46.7% | $73,493-40.6% |
| Participation rate | 22.3% | 62.3%-40.0pp | 69.3%-47.0pp | 70.7%-48.4pp |
| Annual return | 27.42% | 19.07%+8.4pp | 41.31%-13.9pp | 28.51%-1.1pp |
| Employer contribution / active EE | $527 | $1,625-67.6% | $2,498-78.9% | $2,270-76.8% |
| Participant deferral / active EE | $1,049 | $2,762-62.0% | $3,722-71.8% | $3,740-72.0% |
| Admin fee / account holder | $330 | $493-33.0% | $5,665-94.2% | $513-35.7% |