Filed June 18, 2019
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| Provider | Service type | Compensation |
|---|---|---|
NATIONWIDE2+ years Service code 15 ONE NATIONWIDE PLAZA · COLUMBUS, OH 43215 | Recordkeeping | $43,658 |
RETIREMENT SYSTEMS OF CALIFORNIA2+ years Service code 13 · EIN 46-4124810 | Contract Administrator | $10,518 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $56,701 | $52,884+7.2% | $84,753-33.1% | $55,167+2.8% |
| Participation rate | 50.3% | 67.5%-17.2pp | 76.6%-26.3pp | 69.0%-18.7pp |
| Annual return | 8.14% | 18.03%-9.9pp | 22.78%-14.6pp | 169.23%-161.1pp |
| Employer contribution / active EE | $329 | $2,233-85.3% | $3,574-90.8% | $1,963-83.2% |
| Participant deferral / active EE | $2,834 | $2,644+7.2% | $3,712-23.7% | $3,054-7.2% |
| Admin fee / account holder | $526 | $581-9.4% | $5,333-90.1% | $504+4.4% |