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| Provider | Service type | Compensation |
|---|---|---|
NEWPORT GROUP, INC.3+ years Filed as: MATRIX FINANCIAL SOLUTIONS, INC. Service code 18 · EIN 20-1591048 | Shareholder servicing fees; Trustee (... | $1,862 |
Service code 12 · EIN 84-1477138 | Claims processing; Sub-transfer agenc... | $1,465 |
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).
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 | $38,369 | $63,314-39.4% | $91,004-57.8% | $62,293-38.4% |
| Participation rate | 96.1% | 73.3%+22.8pp | 75.6%+20.5pp | 69.5%+26.6pp |
| Annual return | 14.24% | 21.00%-6.8pp | 4.60%+9.6pp | 28.90%-14.7pp |
| Employer contribution / active EE | $689 | $1,807-61.9% | $2,456-71.9% | $2,042-66.3% |
| Participant deferral / active EE | $2,708 | $2,944-8.0% | $3,548-23.7% | $3,169-14.6% |
| Admin fee / account holder | $22 | $468-95.4% | $5,417-99.6% | $479-95.5% |