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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSUR CO OF NY Service code 15 · EIN 13-3646501 | Recordkeeping | $764 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $12,563 | $34,495-63.6% | $78,676-84.0% | $63,975-80.4% |
| Participation rate | 25.3% | 60.8%-35.5pp | 73.6%-48.3pp | 71.1%-45.9pp |
| Annual return | 8.89% | 11.62%-2.7pp | 62.19%-53.3pp | 48.65%-39.8pp |
| Employer contribution / active EE | $132 | $1,398-90.5% | $2,850-95.4% | $2,182-93.9% |
| Participant deferral / active EE | $252 | $2,100-88.0% | $3,517-92.8% | $3,356-92.5% |
| Admin fee / account holder | $43 | $68-37.0% | $4,510-99.1% | $70-39.2% |