Filed April 13, 2018 (most recent of 4 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
BENEFIT PLANS ADMIN SERVICES, INC.10+ years Filed as: BENEFIT PLAN ADMIN SERVICES Service code 17 · EIN 16-1503696 6 RHOADS DRIVE, STE. 7 · UTICA, NY 13502 | Pension Consulting | $71,939 |
HBKS WEALTH ADVISORS9 years Service code 26 6 WEST MAIN ST · FREEDONIA, NY 14063 | Advisory (Participants) | $31,363 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $154,907 | $122,063+26.9% | $184,256-15.9% | $74,478+108.0% |
| Participation rate | 59.3% | 85.5%-26.2pp | 86.8%-27.6pp | 67.2%-8.0pp |
| Annual return | 12.90% | 19.92%-7.0pp | 28.85%-15.9pp | 1370.56%-1357.7pp |
| Employer contribution / active EE | $4,998 | $4,539+10.1% | $6,427-22.2% | $2,626+90.3% |
| Participant deferral / active EE | $5,090 | $7,144-28.8% | $9,133-44.3% | $4,350+17.0% |
| Admin fee / account holder | $672 | $1,253-46.3% | $13,899-95.2% | $1,946-65.4% |