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 | $17,256 |
STRATEGIC FINANCIAL SERVICES6 years Service code 27 114 BUSINESS PARK DR · UTICA, NY 13502 | Advisory (Plan) | $5,765 |
Service code 13 376 ALBANY SHAKER ROAD · ALBANY, NY 12211 | Contract Administrator | $2,247 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $25,360 | $51,226-50.5% | $82,744-69.4% | $66,938-62.1% |
| Participation rate | 67.0% | 67.9%-0.9pp | 72.6%-5.6pp | 69.8%-2.8pp |
| Annual return | -14.50% | -9.61%-4.9pp | 702.22%-716.7pp | 1.58%-16.1pp |
| Employer contribution / active EE | $1,636 | $2,612-37.4% | $3,008-45.6% | $2,545-35.7% |
| Participant deferral / active EE | $936 | $3,460-72.9% | $4,395-78.7% | $4,238-77.9% |
| Admin fee / account holder | $331 | $416-20.3% | $5,325-93.8% | $594-44.2% |