Filed October 17, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 | Contract Administrator | $2,100 |
OTHER1 year Service code 37 | Loan Processing | $1,875 |
Filed as: EMPOWER ANNUITY INSURANCE CO OF AME Service code 64 | Recordkeeping Fees | $950 |
Filed as: GREAT WEST LIFE (GWLA) Service code 15 · EIN 84-0467904 | Recordkeeping | $410 |
FIRST CLEARING LLC8+ years Service code 22 · EIN 25-2384840 | Insurance Broker | $0 |
RELIANCE TRUST COMPANY8+ years Service code 19 · EIN 58-1428634 | Securities Custodian | $0 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO CLEARING SERVICES Service code 55 | Other Commissions | $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.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $36,444 | $46,332-21.3% | $143,799-74.7% | $64,819-43.8% |
| Participation rate | 55.5% | 64.2%-8.7pp | 80.3%-24.8pp | 71.5%-16.0pp |
| Annual return | -17.54% | -10.05%-7.5pp | -0.04%-17.5pp | 32.84%-50.4pp |
| Employer contribution / active EE | $799 | $1,911-58.2% | $4,952-83.9% | $2,507-68.1% |
| Participant deferral / active EE | $3,282 | $2,647+24.0% | $5,638-41.8% | $4,311-23.9% |
| Admin fee / account holder | $12 | $154-92.4% | $14,677-99.9% | $188-93.8% |