Filed November 17, 2017
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE3+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $31,977 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $40,738 | $55,002-25.9% | $59,887-32.0% | $56,287-27.6% |
| Participation rate | 37.2% | 75.9%-38.7pp | 74.7%-37.5pp | 69.9%-32.6pp |
| Annual return | 8.71% | 1.13%+7.6pp | 3.46%+5.2pp | -9.96%+18.7pp |
| Employer contribution / active EE | $1,772 | $2,448-27.6% | $2,722-34.9% | $2,111-16.0% |
| Participant deferral / active EE | $2,241 | $3,121-28.2% | $3,402-34.1% | $3,350-33.1% |
| Admin fee / account holder | $458 | $236+94.1% | $3,591-87.3% | $521-12.2% |