Filed April 15, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER LIFE & ANNUITY INSURANCE CO Service code 15 · EIN 84-0467907 | Recordkeeping | $86,704 |
RIVERSIDE RESEARCH INSTITUTE9+ years Service code 99 2900 CRYSTAL DR · ARLINGTON, VA 22202 | Other Fees | $34,698 |
Service code 99 · EIN 34-1820650 | Other Fees | $300 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $134,291 | $95,417+40.7% | $135,974-1.2% | $74,460+80.4% |
| Participation rate | 66.6% | 78.2%-11.6pp | 81.9%-15.3pp | 70.7%-4.2pp |
| Annual return | 17.98% | 32.76%-14.8pp | 68.30%-50.3pp | 34.38%-16.4pp |
| Employer contribution / active EE | $0 | $3,878-100.0% | $4,859-100.0% | $2,638-100.0% |
| Participant deferral / active EE | $9,963 | $7,789+27.9% | $7,760+28.4% | $4,530+119.9% |
| Admin fee / account holder | $167 | $266-37.1% | $10,767-98.4% | $348-51.9% |