Filed November 17, 2017
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE4+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $33,211 |
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.)
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).
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 | $43,096 | $60,795-29.1% | $69,461-38.0% | $65,185-33.9% |
| Participation rate | 37.2% | 74.9%-37.7pp | 74.6%-37.5pp | 70.2%-33.0pp |
| Annual return | 5.02% | 17.46%-12.4pp | 28.97%-24.0pp | 29.38%-24.4pp |
| Employer contribution / active EE | $1,927 | $2,452-21.4% | $2,779-30.7% | $2,177-11.5% |
| Participant deferral / active EE | $2,441 | $3,162-22.8% | $3,536-31.0% | $3,514-30.5% |
| Admin fee / account holder | $575 | $314+83.3% | $3,840-85.0% | $847-32.1% |