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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.2+ years Filed as: MATRIX FINANCIAL SOLUTIONS, INC. Service code 18 · EIN 20-1591048 | Investment management; Trustee (bank,... | $2,259 |
Service code 12 · EIN 84-1477138 | Participant loan processing; Recordke... | $2,056 |
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 | $37,853 | $56,640-33.2% | $78,002-51.5% | $55,167-31.4% |
| Participation rate | 73.6% | 73.3%+0.3pp | 75.5%-1.9pp | 69.0%+4.7pp |
| Annual return | 7.71% | 2868.48%-2860.8pp | 425.99%-418.3pp | 169.23%-161.5pp |
| Employer contribution / active EE | $414 | $1,724-76.0% | $2,470-83.2% | $1,963-78.9% |
| Participant deferral / active EE | $2,195 | $2,778-21.0% | $3,497-37.2% | $3,054-28.1% |
| Admin fee / account holder | $34 | $467-92.8% | $5,481-99.4% | $504-93.3% |