Filed July 25, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 62 · EIN 04-1590850 | Float revenue; Recordkeeping fees | $240,854 |
Filed as: CBIZ INVESTMENT ADVISORY SERVICES, Service code 26 · EIN 81-3968784 | Advisory (Participants) | $48,729 |
Filed as: SMITH GAMBRELL & RUSSELL LLP Service code 29 PO BOX 930930 · ATLANTA, GA 311930930 | Legal | $26,755 |
Service code 64 · EIN 71-0294708 | Recordkeeping Fees | $12,748 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,032 | $90,195-57.8% | $125,339-69.7% | $89,394-57.5% |
| Participation rate | 8.0% | 72.4%-64.4pp | 82.4%-74.4pp | 71.3%-63.3pp |
| Annual return | -15.18% | -6.51%-8.7pp | 572.05%-587.2pp | -11.89%-3.3pp |
| Employer contribution / active EE | $0 | $3,043-100.0% | $4,814-100.0% | $3,022-100.0% |
| Participant deferral / active EE | $481 | $7,170-93.3% | $7,446-93.5% | $5,123-90.6% |
| Admin fee / account holder | $141 | $69+103.3% | $10,010-98.6% | $79+77.5% |