Filed August 25, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 37 · EIN 04-2647786 | Loan Processing | $9,869 |
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).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $27,899 | $71,192-60.8% | $117,854-76.3% | $62,292-55.2% |
| Participation rate | 56.5% | 74.2%-17.7pp | 79.7%-23.1pp | 69.5%-13.0pp |
| Annual return | 29.33% | 18.66%+10.7pp | 335.08%-305.7pp | 28.90%+0.4pp |
| Employer contribution / active EE | $905 | $1,934-53.2% | $3,786-76.1% | $2,042-55.7% |
| Participant deferral / active EE | $2,446 | $3,189-23.3% | $4,482-45.4% | $3,169-22.8% |
| Admin fee / account holder | $92 | $587-84.4% | $8,020-98.9% | $479-80.9% |