Filed June 1, 2023
| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $53,103 |
MMA SECURITIES LLC2 years Filed as: MMA SECURITIES Service code 70 · EIN 22-3570392 | Consulting Fees | $40,000 |
RSM US LLP3+ years Service code 10 · EIN 42-0714325 | Accounting | $36,125 |
HODGSON RUSS LLP1 year Filed as: HODGSON RUSS Service code 50 · EIN 16-0708550 | Direct Payment | $16,723 |
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 | $57,288 | $177,276-67.7% | $115,752-50.5% | $177,276-67.7% |
| Participation rate | 52.1% | 74.8%-22.7pp | 77.8%-25.7pp | 74.8%-22.7pp |
| Annual return | 19.83% | 21.25%-1.4pp | 19.41%+0.4pp | 21.25%-1.4pp |
| Employer contribution / active EE | $1,785 | $2,479-28.0% | $3,492-48.9% | $2,479-28.0% |
| Participant deferral / active EE | $3,496 | $3,881-9.9% | $5,204-32.8% | $3,881-9.9% |
| Admin fee / account holder | $24 | $154-84.2% | $6,278-99.6% | $154-84.2% |