Filed May 23, 2024
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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.3+ years Filed as: NEWPORT GROUP, INC Service code 60 · EIN 27-2037969 | Sub-TA Fees | $3,903 |
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 | $173,175 | $44,059+293.1% | $71,671+141.6% | $69,631+148.7% |
| Participation rate | 2.4% | 60.8%-58.4pp | 68.7%-66.4pp | 70.7%-68.3pp |
| Annual return | 27.85% | 21.97%+5.9pp | 20.65%+7.2pp | 27571.02%-27543.2pp |
| Employer contribution / active EE | $1,069 | $1,305-18.0% | $2,460-56.5% | $2,032-47.4% |
| Participant deferral / active EE | $2,034 | $2,370-14.2% | $3,438-40.8% | $3,224-36.9% |
| Admin fee / account holder | $108 | $108+0.7% | $5,558-98.0% | $110-1.8% |