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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.1+ years Filed as: MATRIX FINANCIAL SOLUTIONS, INC. Service code 18 · EIN 20-1591048 | Custodial (other than securities); Tr... | $1,617 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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 | $42,838 | $53,412-19.8% | $68,509-37.5% | $52,331-18.1% |
| Participation rate | 52.3% | 71.7%-19.3pp | 74.7%-22.4pp | 68.1%-15.8pp |
| Annual return | -0.51% | 3.42%-3.9pp | 8.27%-8.8pp | 4.54%-5.1pp |
| Employer contribution / active EE | $338 | $1,607-79.0% | $2,278-85.2% | $1,882-82.1% |
| Participant deferral / active EE | $1,771 | $2,688-34.1% | $3,382-47.6% | $3,022-41.4% |
| Admin fee / account holder | $31 | $461-93.2% | $5,275-99.4% | $592-94.7% |