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| Provider | Service type | Compensation |
|---|---|---|
JOHN HANCOCK LIFE INSURANCE COMPANY10+ years Filed as: JOHN HANCOCK LIFE INS. CO. OF NY Service code 15 · EIN 13-3646501 | Recordkeeping | $70,337 |
MAGNUS FINANCIAL GROUP LLC8 years Service code 26 · EIN 82-2239330 | Advisory (Participants) | $39,451 |
THE BENEFIT PRACTICE8 years Service code 15 1055 WASHINGTON BLVD · STAMFORD, CT 06901 | Recordkeeping | $20,483 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $34,263 | $65,191-47.4% | $135,768-74.8% | $65,191-47.4% |
| Participation rate | 38.9% | 63.0%-24.1pp | 71.1%-32.2pp | 63.0%-24.1pp |
| Annual return | 15.56% | 51.24%-35.7pp | 526.10%-510.5pp | 51.24%-35.7pp |
| Employer contribution / active EE | $838 | $2,400-65.1% | $3,394-75.3% | $2,400-65.1% |
| Participant deferral / active EE | $1,033 | $2,671-61.3% | $3,977-74.0% | $2,671-61.3% |
| Admin fee / account holder | $407 | $907-55.1% | $7,048-94.2% | $907-55.1% |