Filed June 1, 2023
| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $73,262 |
MMA SECURITIES LLC1+ years Filed as: MMC SECURITIES CORP Service code 50 · EIN 06-1685865 | Direct Payment | $50,000 |
RSM US LLP1+ years Filed as: MCGLADREY LLP Service code 50 · EIN 42-0714325 | Direct Payment | $23,100 |
RSM US LLP1+ years Service code 50 · EIN 42-0714325 | Direct Payment | $17,878 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $46,938 | $67,505-30.5% | $105,218-55.4% | $67,505-30.5% |
| Participation rate | 57.4% | 71.2%-13.8pp | 77.2%-19.9pp | 71.2%-13.8pp |
| Annual return | 1.01% | 6.52%-5.5pp | 5.33%-4.3pp | 6.52%-5.5pp |
| Employer contribution / active EE | $1,650 | $2,173-24.1% | $3,255-49.3% | $2,173-24.1% |
| Participant deferral / active EE | $3,453 | $3,597-4.0% | $4,867-29.0% | $3,597-4.0% |
| Admin fee / account holder | $29 | $56-48.9% | $6,992-99.6% | $56-48.9% |