Filed July 13, 2021
Total covered: 11 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: FIRST GREAT-WEST LIFE & ANNUITY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $49,538 |
STRATEGIC FINANCIAL SERVICES3 years Service code 27 114 BUSINESS PARK DR · UTICA, NY 13502 | Advisory (Plan) | $21,106 |
Service code 13 376 ALBANY SHAKER ROAD · ALBANY, NY 12211 | Contract Administrator | $13,940 |
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.
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $27,564 | $51,620-46.6% | $90,281-69.5% | $65,185-57.7% |
| Participation rate | 57.5% | 68.6%-11.2pp | 73.3%-15.8pp | 70.2%-12.7pp |
| Annual return | 4.34% | 24.94%-20.6pp | 78.10%-73.8pp | 29.38%-25.0pp |
| Employer contribution / active EE | $1,110 | $2,235-50.3% | $2,854-61.1% | $2,177-49.0% |
| Participant deferral / active EE | $728 | $2,871-74.6% | $3,885-81.3% | $3,514-79.3% |
| Admin fee / account holder | $326 | $384-15.2% | $5,351-93.9% | $847-61.5% |