Filed October 30, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $85,771 |
Filed as: EMPOWER LIFE & ANNUITY INSURANCE-NY Service code 15 · EIN 93-1225432 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping | $31,759 |
CREATIVE PENSION CONSULTANTS, INC.10+ years Service code 13 435 NEW KARNER ROAD · ALBANY, NY 12205 | Contract Administrator | $24,595 |
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).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $133,070 | $116,081+14.6% | $156,181-14.8% | $79,634+67.1% |
| Participation rate | 65.3% | 75.6%-10.3pp | 78.8%-13.6pp | 62.5%+2.8pp |
| Annual return | 14.00% | 15.89%-1.9pp | 64.87%-50.9pp | 36.46%-22.5pp |
| Employer contribution / active EE | $1,551 | $2,828-45.2% | $4,294-63.9% | $2,529-38.7% |
| Participant deferral / active EE | $3,861 | $4,584-15.8% | $6,132-37.0% | $3,835+0.7% |
| Admin fee / account holder | $405 | $854-52.6% | $14,586-97.2% | $1,002-59.5% |