Filed May 28, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER2+ years Filed as: ADP, LLC Service code 15 · EIN 13-3036745 | Recordkeeping | $21,565 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $20,357 | $89,739-77.3% | $149,721-86.4% | $62,293-67.3% |
| Participation rate | 100.0% | 85.1%+14.9pp | 87.1%+12.9pp | 69.5%+30.5pp |
| Annual return | 20.67% | 21.01%-0.3pp | 1501.67%-1481.0pp | 28.90%-8.2pp |
| Employer contribution / active EE | $2,469 | $3,233-23.6% | $5,444-54.7% | $2,042+20.9% |
| Participant deferral / active EE | $2,046 | $4,797-57.3% | $6,568-68.8% | $3,169-35.4% |
| Admin fee / account holder | $130 | $551-76.4% | $11,282-98.8% | $479-72.9% |