Filed December 13, 2016 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER LIFE & ANNUITY INSURANCE CO Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $179,140 |
WELLS FARGO BANK, N.A.3 years Filed as: WELLS FARGO ADVISORS INS AGENCY INC Service code 55 · EIN 54-0910269 | Other Commissions | $89,127 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $2,828 |
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.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $83,652 | $50,815+64.6% | $155,509-46.2% | $77,643+7.7% |
| Participation rate | 24.9% | 63.1%-38.2pp | 78.2%-53.3pp | 70.6%-45.7pp |
| Annual return | 11.24% | 34.80%-23.6pp | 64.67%-53.4pp | 31.24%-20.0pp |
| Employer contribution / active EE | $302 | $1,993-84.8% | $4,672-93.5% | $2,726-88.9% |
| Participant deferral / active EE | $1,800 | $2,822-36.2% | $5,626-68.0% | $4,647-61.3% |
| Admin fee / account holder | $435 | $437-0.4% | $15,912-97.3% | $430+1.1% |