Filed May 23, 2024
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.2+ years Filed as: NEWPORT GROUP, INC Service code 60 · EIN 27-2037969 | Sub-TA Fees | $2,724 |
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 | $43,502 | $74,024-41.2% | $78,002-44.2% | $57,658-24.6% |
| Participation rate | 29.4% | 79.7%-50.3pp | 75.5%-46.1pp | 70.2%-40.8pp |
| Annual return | 11.33% | 12.14%-0.8pp | 425.99%-414.7pp | 5.13%+6.2pp |
| Employer contribution / active EE | $1,038 | $2,365-56.1% | $2,470-58.0% | $1,974-47.4% |
| Participant deferral / active EE | $1,774 | $3,533-49.8% | $3,497-49.3% | $3,061-42.0% |
| Admin fee / account holder | $28 | $93-69.9% | $5,481-99.5% | $95-70.3% |