Filed June 23, 2022
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| Provider | Service type | Compensation |
|---|---|---|
MORGAN STANLEY SMITH BARNEY2 years Service code 15 · EIN 20-8764829 | Recordkeeping | $81,628 |
ADP BROKER-DEALER3 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $39,721 |
ADP BROKER-DEALER8+ years Service code 49 · EIN 22-3319984 | Other Services | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $51,905 | $39,973+29.8% | $79,583-34.8% | $77,906-33.4% |
| Participation rate | 24.6% | 64.6%-40.0pp | 69.5%-44.9pp | 73.7%-49.1pp |
| Annual return | -18.68% | 3.42%-22.1pp | 0.16%-18.8pp | 12.16%-30.8pp |
| Employer contribution / active EE | $356 | $1,088-67.3% | $2,414-85.3% | $2,846-87.5% |
| Participant deferral / active EE | $1,133 | $2,774-59.2% | $3,986-71.6% | $4,805-76.4% |
| Admin fee / account holder | $159 | $113+40.9% | $6,835-97.7% | $133+20.0% |