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 | $173,511 |
WELLS FARGO BANK, N.A.2 years Filed as: WELLS FARGO ADVISORS INS AGENCY INC Service code 55 · EIN 54-0910269 | Other Commissions | $91,932 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $1,916 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $70,049 | $47,163+48.5% | $149,696-53.2% | $74,460-5.9% |
| Participation rate | 21.8% | 63.4%-41.6pp | 78.8%-57.0pp | 70.7%-49.0pp |
| Annual return | 13.77% | 22.75%-9.0pp | 134.46%-120.7pp | 34.38%-20.6pp |
| Employer contribution / active EE | $337 | $1,907-82.3% | $4,821-93.0% | $2,638-87.2% |
| Participant deferral / active EE | $1,951 | $2,730-28.5% | $5,682-65.7% | $4,530-56.9% |
| Admin fee / account holder | $344 | $343+0.3% | $13,212-97.4% | $348-1.1% |