Filed January 22, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 49 | Other Services | $5,885 |
Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 64 · EIN 71-0294708 | Recordkeeping Fees | $1 |
Filed as: MICHIGAN BENE Service code 49 · EIN 38-3220894 | Other Services | $0 |
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| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $34,499 | $101,591-66.0% | $147,096-76.5% | $74,429-53.6% |
| Participation rate | 98.0% | 75.5%+22.5pp | 82.2%+15.8pp | 67.2%+30.8pp |
| Annual return | 15.73% | 8746.45%-8730.7pp | 419.75%-404.0pp | 1368.38%-1352.7pp |
| Employer contribution / active EE | $2,370 | $3,813-37.8% | $4,936-52.0% | $2,625-9.7% |
| Participant deferral / active EE | $4,764 | $7,302-34.8% | $8,071-41.0% | $4,348+9.6% |
| Admin fee / account holder | $22 | $1,750-98.8% | $13,005-99.8% | $1,944-98.9% |