Filed February 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $524,195 |
STRATEGIC ADVISORS, INC.3 years Service code 27 · EIN 04-2654524 | Advisory (Plan) | $74,632 |
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 that benefits due were not provided when due.
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 | $34,058 | $64,975-47.6% | $97,295-65.0% | $106,553-68.0% |
| Participation rate | 44.3% | 45.4%-1.1pp | 72.7%-28.4pp | 69.8%-25.5pp |
| Annual return | 17.12% | 15.21%+1.9pp | 75.62%-58.5pp | 17.37%-0.2pp |
| Employer contribution / active EE | $902 | $1,126-19.9% | $2,723-66.9% | $3,359-73.1% |
| Participant deferral / active EE | $3,163 | $2,466+28.2% | $4,264-25.8% | $5,562-43.1% |
| Admin fee / account holder | $65 | $69-5.6% | $5,646-98.9% | $80-18.7% |