Filed January 19, 2024
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| Provider | Service type | Compensation |
|---|---|---|
STANCORP FINANCIAL GROUP10+ years Service code 12 · EIN 93-1253576 | Recordkeeping and information managem... | $46,235 |
Service code 27 · EIN 33-0818667 | Advisory (Plan) | $19,475 |
Filed as: INDEPENDENT FINANCIAL GROUP, LLC Service code 27 · EIN 71-0927304 | Advisory (Plan) | $9,727 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,881 | $50,815-74.7% | $155,509-91.7% | $77,643-83.4% |
| Participation rate | 60.5% | 63.1%-2.6pp | 78.2%-17.7pp | 70.6%-10.0pp |
| Annual return | 13.05% | 34.80%-21.8pp | 64.67%-51.6pp | 31.24%-18.2pp |
| Employer contribution / active EE | $106 | $1,993-94.7% | $4,672-97.7% | $2,726-96.1% |
| Participant deferral / active EE | $1,315 | $2,822-53.4% | $5,626-76.6% | $4,647-71.7% |
| Admin fee / account holder | $171 | $437-60.8% | $15,912-98.9% | $430-60.3% |