Filed April 12, 2016
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK RETIREMENT PLAN SERVIC Service code 15 · EIN 01-0233346 | Recordkeeping | $24,635 |
COMERICA BANK2 years Filed as: COMERICA SECURITIES Service code 27 455 CAPITOL MALL, SUITE 400 · SACRAMENTO, CA 45014 | Advisory (Plan) | $23,260 |
KSJG, LLP4+ years Filed as: KSJG Service code 10 · EIN 95-3322166 | Accounting | $9,800 |
COMERICA BANK1 year Filed as: COMERICA Service code 55 | Other Commissions | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $82,182 | $39,898+106.0% | $121,196-32.2% | $55,725+47.5% |
| Participation rate | 44.8% | 61.2%-16.4pp | 71.7%-26.9pp | 70.9%-26.0pp |
| Annual return | -7.14% | -0.96%-6.2pp | 16.93%-24.1pp | 244.93%-252.1pp |
| Employer contribution / active EE | $143 | $1,295-88.9% | $4,022-96.4% | $2,078-93.1% |
| Participant deferral / active EE | $5,151 | $2,439+111.2% | $3,344+54.0% | $3,356+53.5% |
| Admin fee / account holder | $489 | $95+413.9% | $5,019-90.3% | $115+324.3% |