Filed October 8, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $37,916 |
REGIONS BANK3 years Filed as: REGIONS FINANCIAL CORPORATION Service code 99 INSTITUTIONAL FEE TEAM · BIRMINGHAM, AL 35202 | Other Fees | $15,236 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $2,557 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $71,347 | $62,177+14.7% | $81,370-12.3% | $74,478-4.2% |
| Participation rate | 67.2% | 64.1%+3.1pp | 69.5%-2.4pp | 67.2%-0.1pp |
| Annual return | 30.43% | 16.62%+13.8pp | 24.85%+5.6pp | 1370.56%-1340.1pp |
| Employer contribution / active EE | $2,236 | $1,881+18.8% | $2,464-9.3% | $2,626-14.9% |
| Participant deferral / active EE | $4,589 | $3,219+42.5% | $3,885+18.1% | $4,350+5.5% |
| Admin fee / account holder | $311 | $1,927-83.8% | $5,749-94.6% | $1,946-84.0% |