Filed June 2, 2022
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE5+ years Service code 15 · EIN 31-4156830 ONE NATIONWIDE PAZA · COLUMBUS, OH 43215 | Recordkeeping | $18,056 |
RAYMOND JAMES FINANCIAL SERVICES5+ years Filed as: RAYMOND JAMES FIN SERV ADVISORS Service code 27 · EIN 59-2937883 800 CARILLON PKWY · SAINT PETERSBURG, FL 33716 | Advisory (Plan) | $14,278 |
NEXUS ADMINISTRATORS, INC.5+ years Service code 13 · EIN 77-0586222 735 WEST ALLUVIAL, SUITE 101 · FRESNO, CA 93711 | Contract Administrator | $923 |
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.
Annual investment return 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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,914 | $60,504-65.4% | $81,882-74.5% | $74,478-71.9% |
| Participation rate | 51.6% | 62.9%-11.3pp | 72.4%-20.8pp | 67.2%-15.6pp |
| Annual return | 11.19% | 16.91%-5.7pp | 779.47%-768.3pp | 1370.56%-1359.4pp |
| Employer contribution / active EE | $86 | $2,627-96.7% | $2,916-97.0% | $2,626-96.7% |
| Participant deferral / active EE | $1,265 | $3,400-62.8% | $4,323-70.7% | $4,350-70.9% |
| Admin fee / account holder | $170 | $1,492-88.6% | $7,360-97.7% | $1,946-91.2% |