Filed January 19, 2024
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| Provider | Service type | Compensation |
|---|---|---|
STANCORP FINANCIAL GROUP5+ years Service code 12 · EIN 93-1253576 | Recordkeeping and information managem... | $25,922 |
Filed as: INDEPENDENT FINANCIAL GROUP, LLC Service code 27 · EIN 71-0927304 | Advisory (Plan) | $7,884 |
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.
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 | $16,867 | $62,928-73.2% | $172,753-90.2% | $67,582-75.0% |
| Participation rate | 32.2% | 64.5%-32.3pp | 82.6%-50.4pp | 71.3%-39.1pp |
| Annual return | 35.11% | 30.36%+4.8pp | 803.00%-767.9pp | 378.57%-343.5pp |
| Employer contribution / active EE | $173 | $1,636-89.4% | $5,144-96.6% | $2,148-91.9% |
| Participant deferral / active EE | $1,184 | $2,145-44.8% | $5,198-77.2% | $3,539-66.5% |
| Admin fee / account holder | $256 | $167+53.7% | $13,956-98.2% | $142+80.0% |