Filed March 23, 2023
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| Provider | Service type | Compensation |
|---|---|---|
MERRILL LYNCH PIERCE FENNER & SMITH10+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $83,994 |
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $37,225 | $119,626-68.9% | $147,096-74.7% | $99,269-62.5% |
| Participation rate | 94.8% | 73.4%+21.4pp | 82.2%+12.6pp | 71.7%+23.1pp |
| Annual return | 13.10% | 28.81%-15.7pp | 419.75%-406.7pp | 17.66%-4.6pp |
| Employer contribution / active EE | $2,411 | $4,152-41.9% | $4,936-51.2% | $3,265-26.2% |
| Participant deferral / active EE | $3,358 | $7,997-58.0% | $8,071-58.4% | $5,344-37.2% |
| Admin fee / account holder | $10 | $150-93.4% | $13,005-99.9% | $109-90.9% |