Filed October 1, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $120,278 |
Filed as: FAEGRE, DRINKER BIDDLE & REATH LLP Service code 50 · EIN 41-0244008 | Direct Payment | $102,700 |
PENSION ASSURANCE LLP1 year Service code 10 · EIN 30-0840934 | Accounting | $14,820 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $144,485 | $185,342-22.0% | $111,308+29.8% | $86,821+66.4% |
| Participation rate | 92.6% | 81.0%+11.6pp | 77.3%+15.3pp | 72.3%+20.3pp |
| Annual return | 20.88% | 500.80%-479.9pp | 54.67%-33.8pp | 97.94%-77.1pp |
| Employer contribution / active EE | $4,022 | $2,246+79.1% | $2,732+47.2% | $2,406+67.2% |
| Participant deferral / active EE | $8,883 | $4,458+99.2% | $4,487+98.0% | $4,132+115.0% |
| Admin fee / account holder | $432 | $255+69.0% | $7,965-94.6% | $170+154.6% |