Filed June 1, 2023
| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $330,288 |
MMA SECURITIES LLC6 years Filed as: MMA SECURITIES Service code 70 · EIN 22-3570392 | Consulting Fees | $40,000 |
RSM US LLP7+ years Service code 10 · EIN 42-0714325 | Accounting | $36,750 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $70,834 | $101,555-30.3% | $453,569-84.4% | $101,555-30.3% |
| Participation rate | 51.3% | 74.5%-23.2pp | 78.0%-26.7pp | 74.5%-23.2pp |
| Annual return | 16.29% | 21.00%-4.7pp | 64.43%-48.1pp | 21.00%-4.7pp |
| Employer contribution / active EE | $1,639 | $2,972-44.9% | $4,072-59.8% | $2,972-44.9% |
| Participant deferral / active EE | $3,584 | $4,874-26.5% | $6,211-42.3% | $4,874-26.5% |
| Admin fee / account holder | $71 | $139-48.8% | $11,214-99.4% | $139-48.8% |