Filed December 24, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 06-1050034 | Contract Administrator | $74,960 |
REGIONS BANK2+ years Filed as: REGIONS Service code 49 · EIN 63-0371391 | Other Services | $32,068 |
Filed as: THE PRUDENTIAL INSURANCE COMPANY OF Service code 15 | Recordkeeping | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $88,904 | $63,905+39.1% | $74,184+19.8% | $57,658+54.2% |
| Participation rate | 100.0% | 79.8%+20.2pp | 76.6%+23.4pp | 70.2%+29.8pp |
| Annual return | 8.13% | 60.60%-52.5pp | 17.74%-9.6pp | 5.13%+3.0pp |
| Employer contribution / active EE | $2,299 | $1,840+24.9% | $2,370-3.0% | $1,974+16.5% |
| Participant deferral / active EE | $8,543 | $3,448+147.8% | $3,550+140.7% | $3,061+179.1% |
| Admin fee / account holder | $382 | $91+319.4% | $5,586-93.2% | $95+304.0% |