Filed June 1, 2023
| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $344,748 |
RSM US LLP8+ years Service code 10 · EIN 42-0714325 | Accounting | $59,850 |
MMA SECURITIES LLC7 years Filed as: MMA SECURITIES Service code 70 · EIN 22-3570392 | Consulting Fees | $40,000 |
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 | $56,248 | $78,104-28.0% | $115,756-51.4% | $78,104-28.0% |
| Participation rate | 49.6% | 74.5%-24.9pp | 77.1%-27.5pp | 74.5%-24.9pp |
| Annual return | -15.97% | 10.90%-26.9pp | 143.14%-159.1pp | 10.90%-26.9pp |
| Employer contribution / active EE | $1,668 | $3,128-46.7% | $3,793-56.0% | $3,128-46.7% |
| Participant deferral / active EE | $3,696 | $5,089-27.4% | $6,254-40.9% | $5,089-27.4% |
| Admin fee / account holder | $75 | $79-4.6% | $8,124-99.1% | $79-4.6% |