Filed May 15, 2025
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| Provider | Service type | Compensation |
|---|---|---|
MERRILL LYNCH PIERCE FENNER & SMITH10+ years Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $173,762 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $29,785 | $92,055-67.6% | $106,213-72.0% | $77,643-61.6% |
| Participation rate | 96.5% | 81.0%+15.4pp | 75.3%+21.2pp | 70.6%+25.9pp |
| Annual return | 8.96% | 17.91%-8.9pp | 116.14%-107.2pp | 31.24%-22.3pp |
| Employer contribution / active EE | $1,759 | $3,367-47.8% | $3,171-44.5% | $2,726-35.5% |
| Participant deferral / active EE | $3,037 | $5,386-43.6% | $5,016-39.5% | $4,647-34.7% |
| Admin fee / account holder | $307 | $219+40.2% | $11,033-97.2% | $430-28.7% |