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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK NEW YORK Service code 15 · EIN 13-3646501 | Recordkeeping | $318 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $59,904 | $56,503+6.0% | $70,098-14.5% | $64,814-7.6% |
| Participation rate | 4.0% | 70.5%-66.4pp | 70.5%-66.4pp | 71.5%-67.4pp |
| Annual return | -19.01% | -13.44%-5.6pp | 190.76%-209.8pp | 32.84%-51.9pp |
| Employer contribution / active EE | $0 | $2,046-100.0% | $2,560-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $325 | $3,389-90.4% | $3,849-91.5% | $4,310-92.5% |
| Admin fee / account holder | $620 | $160+286.8% | $6,266-90.1% | $188+230.2% |