Filed September 30, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Service code 26 · EIN 04-2675571 | Advisory (Participants) | $20,000 |
Filed as: VOYA RETIREMENT INS. & ANNUITY CO. Service code 15 · EIN 71-0294708 | Recordkeeping | $2,050 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $167,023 | $132,049+26.5% | $200,582-16.7% | $74,304+124.8% |
| Participation rate | 60.6% | 84.1%-23.5pp | 86.9%-26.3pp | 60.3%+0.2pp |
| Annual return | 16.43% | 22.22%-5.8pp | 42.33%-25.9pp | 29.43%-13.0pp |
| Employer contribution / active EE | $5,670 | $4,558+24.4% | $6,419-11.7% | $2,241+153.0% |
| Participant deferral / active EE | $5,892 | $7,213-18.3% | $9,331-36.9% | $3,767+56.4% |
| Admin fee / account holder | $184 | $2,405-92.4% | $16,305-98.9% | $2,969-93.8% |