Filed June 14, 2024
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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 | $17,058 |
Service code 13 7734 EXCELSIOR RD STE 102 · BAXTER, MN 56425 | Contract Administrator | $16,775 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,122 | $64,705-78.2% | $62,929-77.6% | $67,986-79.2% |
| Participation rate | 80.8% | 65.6%+15.2pp | 73.1%+7.7pp | 57.2%+23.6pp |
| Annual return | 25.28% | 20.31%+5.0pp | 1063.93%-1038.6pp | 31.67%-6.4pp |
| Employer contribution / active EE | $960 | $2,376-59.6% | $2,505-61.7% | $2,019-52.5% |
| Participant deferral / active EE | $2,439 | $3,198-23.7% | $3,888-37.3% | $3,358-27.4% |
| Admin fee / account holder | $106 | $1,428-92.6% | $5,065-97.9% | $3,203-96.7% |