Filed January 19, 2024
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| Provider | Service type | Compensation |
|---|---|---|
STANCORP FINANCIAL GROUP7+ years Service code 12 · EIN 93-1253576 | Custodial (securities); Recordkeeping... | $33,253 |
Filed as: INDEPENDENT FINANCIAL GROUP, LLC Service code 27 · EIN 71-0927304 | Advisory (Plan) | $18,474 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,530 | $56,540-60.2% | $185,849-87.9% | $86,821-74.0% |
| Participation rate | 27.7% | 65.5%-37.8pp | 81.7%-54.0pp | 72.3%-44.6pp |
| Annual return | 16.65% | 118.20%-101.6pp | 122.10%-105.4pp | 97.94%-81.3pp |
| Employer contribution / active EE | $336 | $1,844-81.8% | $5,169-93.5% | $2,406-86.0% |
| Participant deferral / active EE | $1,322 | $2,555-48.3% | $5,569-76.3% | $4,132-68.0% |
| Admin fee / account holder | $287 | $150+92.0% | $16,244-98.2% | $170+69.5% |