Filed July 30, 2019
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| Provider | Service type | Compensation |
|---|---|---|
STANCORP FINANCIAL GROUP4 years Service code 12 · EIN 93-1253576 | Recordkeeping and information managem... | $22,200 |
WOODBURY FINANCIAL SERVICES2 years Filed as: WOODBURY FINANCIAL SERVICES, INC Service code 27 · EIN 41-0944586 | Advisory (Plan) | $7,954 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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).
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 | $17,428 | $52,293-66.7% | $178,499-90.2% | $73,412-76.3% |
| Participation rate | 27.9% | 65.3%-37.4pp | 81.9%-54.0pp | 72.2%-44.2pp |
| Annual return | 16.19% | 34.75%-18.6pp | 151.10%-134.9pp | 59.30%-43.1pp |
| Employer contribution / active EE | $254 | $1,735-85.3% | $5,011-94.9% | $2,234-88.6% |
| Participant deferral / active EE | $1,062 | $2,332-54.5% | $5,202-79.6% | $3,806-72.1% |
| Admin fee / account holder | $210 | $127+65.2% | $13,986-98.5% | $158+33.2% |