Filed April 4, 2018
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $6,460 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $31,609 | $50,464-37.4% | $75,784-58.3% | $52,331-39.6% |
| Participation rate | 63.7% | 66.8%-3.1pp | 75.8%-12.1pp | 68.1%-4.4pp |
| Annual return | -1.21% | 1.03%-2.2pp | 9.68%-10.9pp | 4.54%-5.8pp |
| Employer contribution / active EE | $1,760 | $1,988-11.5% | $3,323-47.0% | $1,882-6.5% |
| Participant deferral / active EE | $3,445 | $2,570+34.0% | $3,652-5.7% | $3,022+14.0% |
| Admin fee / account holder | $35 | $1,103-96.8% | $5,300-99.3% | $592-94.0% |