Filed November 3, 2022
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE5+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 42315 | Recordkeeping | $50,118 |
Service code 26 · EIN 81-3433658 | Advisory (Participants) | $19,582 |
DEFINITI LLC1 year Service code 50 · EIN 85-0833363 2201 TIMBERLOCH PLACE · THE WOODLANDS, TX 77380 | Direct Payment | $1,600 |
Filed as: AMERIPRISE FINANCIAL SERVICES Service code 26 50082 AMERIPRISE FINANCIAL CTR · MINNEAPOLIS, MN 55474 | Advisory (Participants) | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $93,431 | $98,766-5.4% | $149,730-37.6% | $79,852+17.0% |
| Participation rate | 76.7% | 75.8%+1.0pp | 82.5%-5.7pp | 69.6%+7.1pp |
| Annual return | 8.18% | 27.43%-19.2pp | 276.70%-268.5pp | 31.72%-23.5pp |
| Employer contribution / active EE | $2,934 | $3,217-8.8% | $4,645-36.8% | $2,471+18.8% |
| Participant deferral / active EE | $6,766 | $5,681+19.1% | $6,843-1.1% | $3,740+80.9% |
| Admin fee / account holder | $713 | $6,052-88.2% | $9,310-92.3% | $5,306-86.6% |