Filed February 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $339,125 |
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.
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 | $14,689 | $49,890-70.6% | $104,656-86.0% | $106,273-86.2% |
| Participation rate | 34.8% | 45.0%-10.2pp | 74.1%-39.3pp | 70.8%-36.0pp |
| Annual return | 43.71% | 18.07%+25.6pp | 340.70%-297.0pp | 21.70%+22.0pp |
| Employer contribution / active EE | $492 | $809-39.2% | $2,682-81.6% | $2,722-81.9% |
| Participant deferral / active EE | $1,535 | $1,699-9.6% | $3,738-58.9% | $4,601-66.6% |
| Admin fee / account holder | $74 | $56+32.2% | $6,466-98.8% | $78-5.1% |