Filed March 17, 2022 (most recent of 7 filings on file)
| Provider | Service type | Compensation |
|---|---|---|
CONDUENT HR CONSULTING, LLC3 years Filed as: CONDUENT HR SERVICES, LLC Service code 15 · EIN 20-2185976 | Recordkeeping | $6,835,922 |
Service code 10 · EIN 91-0425694 | Accounting | $2,646,203 |
Filed as: STATE STREET BANK AND TRUST Service code 13 · EIN 04-1867445 | Contract Administrator | $740,872 |
Service code 11 · EIN 53-0181291 | Actuarial | $380,007 |
DELOITTE & TOUCHE LLP1 year Service code 10 · EIN 13-3891517 | Accounting | $123,391 |
AON CONSULTING1 year Filed as: AON CONSULTING, INC. Service code 17 · EIN 22-2232264 | Pension Consulting | $90,153 |
STATE STREET GLOBAL ADVISORS3 years Service code 51 · EIN 81-4017137 | Investment Mgmt Fees | $90,153 |
K&L GATES1 year Filed as: K&L GATES LLP Service code 29 · EIN 25-0921018 | Legal | $54,092 |
FOLEY & LARDNER LLP4 years Service code 29 · EIN 39-0473800 | Legal | $30,678 |
HERRONPALMER1 year Service code 16 · EIN 46-5438594 | Consulting | $28,688 |
Counterparties on defaulted loans (Part 1), defaulted leases (Part 2), and non-exempt prohibited transactions (Part 3). Presence of any row warrants fiduciary review.
| Category | Counterparty | Relationship / Terms | Address | Amount |
|---|---|---|---|---|
| Part 3 Non-exempt transaction | WILLIS TOWERS WASTON | SERVICE PROVIDER PLAN ASSETS WERE INADVERTENTLY USED TO MAKE AN OVERPAYMENT TO A THIRD-PARTY PROVIDER | — | — |
| Part 3 Non-exempt transaction | ERNST & YOUNG | SERVICE PROVIDER PLAN ASSETS WERE INADVERTENTLY USED TO MAKE AN OVERPAYMENT TO A THIRD-PARTY PROVIDER | — | — |
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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Assets per participant exceed $250,000 - top-decile high-value plan.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $1,719,429,966 | $894,319,009+92.3% | $133,543,011+1187.5% | $894,319,009+92.3% |
| Participation rate | 0.0% | 0.0%0pp | 8.0%-8.0pp | 0.0%0pp |
| Annual return | 19.22% | 24.48%-5.3pp | 29.77%-10.5pp | 24.48%-5.3pp |
| Employer contribution / active EE | $0 | $9,418-100.0% | $33,607-100.0% | $9,418-100.0% |
| Participant deferral / active EE | $0 | $501-100.0% | $96-100.0% | $501-100.0% |
| Admin fee / account holder | $5,483,086 | $2,968,729+84.7% | $835,310+556.4% | $2,968,729+84.7% |