Filed December 24, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 06-1050034 | Contract Administrator | $66,834 |
REGIONS BANK4+ years Filed as: REGIONS Service code 27 · EIN 63-0371391 | Advisory (Plan) | $57,234 |
Service code 10 · EIN 30-0840934 | Accounting | $16,400 |
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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $113,803 | $59,186+92.3% | $76,768+48.2% | $56,287+102.2% |
| Participation rate | 100.0% | 75.2%+24.8pp | 77.0%+23.0pp | 69.9%+30.1pp |
| Annual return | -3.85% | 6.62%-10.5pp | 2.43%-6.3pp | -9.96%+6.1pp |
| Employer contribution / active EE | $3,895 | $1,759+121.5% | $2,485+56.7% | $2,111+84.5% |
| Participant deferral / active EE | $15,769 | $3,255+384.5% | $3,852+309.4% | $3,350+370.7% |
| Admin fee / account holder | $457 | $489-6.6% | $6,675-93.2% | $521-12.4% |