Filed June 1, 2023
| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $66,225 |
RSM US LLP2+ years Service code 50 · EIN 42-0714325 | Direct Payment | $35,500 |
MMA SECURITIES LLC1 year Filed as: MMA SECURITIES Service code 70 · EIN 22-3570392 | Consulting Fees | $35,000 |
MMA SECURITIES LLC2+ years Filed as: MMC SECURITIES CORP Service code 70 · EIN 06-1685865 | Consulting Fees | $12,500 |
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 | $45,263 | $92,813-51.2% | $108,745-58.4% | $65,292-30.7% |
| Participation rate | 54.3% | 84.5%-30.2pp | 77.7%-23.4pp | 72.4%-18.1pp |
| Annual return | 8.75% | 14.67%-5.9pp | 46.22%-37.5pp | 11.84%-3.1pp |
| Employer contribution / active EE | $1,703 | $3,016-43.5% | $3,323-48.8% | $2,302-26.0% |
| Participant deferral / active EE | $3,396 | $5,191-34.6% | $5,121-33.7% | $3,579-5.1% |
| Admin fee / account holder | $22 | $56-60.4% | $6,144-99.6% | $57-61.2% |