Filed July 10, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 15 · EIN 35-0145825 | Recordkeeping | $28,650 |
Filed as: COMMONWEALTH FINANCIAL NETWO Service code 16 · EIN 04-2675571 | Consulting | $24,304 |
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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $46,566 | $50,919-8.5% | $155,556-70.1% | $77,762-40.1% |
| Participation rate | 56.5% | 63.1%-6.6pp | 78.2%-21.7pp | 70.6%-14.1pp |
| Annual return | 11.81% | 34.84%-23.0pp | 64.84%-53.0pp | 31.27%-19.5pp |
| Employer contribution / active EE | $0 | $1,991-100.0% | $4,675-100.0% | $2,728-100.0% |
| Participant deferral / active EE | $1,912 | $2,824-32.3% | $5,631-66.0% | $4,651-58.9% |
| Admin fee / account holder | $20 | $437-95.3% | $15,885-99.9% | $433-95.3% |