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 | $101,672-66.1% | $147,117-76.6% | $74,478-53.7% |
| Participation rate | 98.0% | 75.5%+22.5pp | 82.2%+15.8pp | 67.2%+30.8pp |
| Annual return | 15.73% | 8757.83%-8742.1pp | 420.54%-404.8pp | 1370.56%-1354.8pp |
| Employer contribution / active EE | $2,370 | $3,813-37.8% | $4,932-51.9% | $2,626-9.7% |
| Participant deferral / active EE | $4,764 | $7,305-34.8% | $8,065-40.9% | $4,350+9.5% |
| Admin fee / account holder | $22 | $1,753-98.8% | $12,993-99.8% | $1,946-98.9% |