Filed November 28, 2023
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| Provider | Service type | Compensation |
|---|---|---|
ADP BROKER-DEALER2 years Filed as: ADP, INC. Service code 15 · EIN 13-3036745 | Recordkeeping | $1,835 |
ADP BROKER-DEALER2 years Service code 49 · EIN 22-3319984 | Other Services | $0 |
Service code 59 · EIN 13-5674085 | Shareholder Servicing | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $13,847 | $56,438-75.5% | $76,872-82.0% | $71,511-80.6% |
| Participation rate | 64.8% | 64.3%+0.5pp | 69.6%-4.7pp | 67.9%-3.1pp |
| Annual return | 18.25% | 19.05%-0.8pp | 37.90%-19.7pp | 28.86%-10.6pp |
| Employer contribution / active EE | $0 | $1,864-100.0% | $2,533-100.0% | $2,589-100.0% |
| Participant deferral / active EE | $3,526 | $3,136+12.4% | $3,832-8.0% | $4,291-17.8% |
| Admin fee / account holder | $16 | $1,430-98.9% | $5,476-99.7% | $1,588-99.0% |