Filed February 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $508,211 |
STRATEGIC ADVISORS, INC.1 year Service code 27 · EIN 04-2654524 | Advisory (Plan) | $16,757 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,423 | $48,447-59.9% | $91,215-78.7% | $89,433-78.3% |
| Participation rate | 38.1% | 46.5%-8.3pp | 73.2%-35.1pp | 71.3%-33.1pp |
| Annual return | -10.88% | -13.16%+2.3pp | 114.15%-125.0pp | -11.88%+1.0pp |
| Employer contribution / active EE | $739 | $1,115-33.7% | $2,852-74.1% | $3,021-75.5% |
| Participant deferral / active EE | $2,431 | $2,235+8.8% | $4,234-42.6% | $5,125-52.6% |
| Admin fee / account holder | $74 | $61+20.7% | $5,424-98.6% | $79-7.3% |