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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE OF NY Service code 15 · EIN 13-3646501 P O BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $372 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $27,096 | $37,117-27.0% | $147,617-81.6% | $55,191-50.9% |
| Participation rate | 33.9% | 63.6%-29.8pp | 84.6%-50.8pp | 69.2%-35.3pp |
| Annual return | 1.90% | 3.44%-1.5pp | 61.98%-60.1pp | 10.78%-8.9pp |
| Employer contribution / active EE | $47 | $1,620-97.1% | $5,564-99.2% | $1,899-97.5% |
| Participant deferral / active EE | $1,421 | $1,985-28.4% | $4,895-71.0% | $3,046-53.4% |
| Admin fee / account holder | $15 | $86-82.2% | $11,612-99.9% | $91-83.2% |