Filed June 1, 2023
| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $54,219 |
RSM US LLP5+ years Service code 10 · EIN 42-0714325 | Accounting | $14,700 |
MMA SECURITIES LLC4 years Filed as: MMA SECURITIES Service code 70 · EIN 22-3570392 | Consulting Fees | $13,800 |
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 | $58,102 | $82,204-29.3% | $392,568-85.2% | $82,204-29.3% |
| Participation rate | 48.2% | 73.4%-25.2pp | 78.1%-29.9pp | 73.4%-25.2pp |
| Annual return | 28.27% | 26.31%+2.0pp | 24.42%+3.8pp | 26.31%+2.0pp |
| Employer contribution / active EE | $1,423 | $2,707-47.4% | $3,783-62.4% | $2,707-47.4% |
| Participant deferral / active EE | $3,011 | $4,246-29.1% | $5,985-49.7% | $4,246-29.1% |
| Admin fee / account holder | $12 | $76-83.5% | $6,260-99.8% | $76-83.5% |