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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO. NY Service code 10 · EIN 13-3646501 P.O. BOX 600 · BUFFALO, NY 142010600 | Accounting | $216 |
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.)
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 | $69,406 | $73,102-5.1% | $123,553-43.8% | $56,289+23.3% |
| Participation rate | 64.6% | 74.3%-9.7pp | 82.3%-17.7pp | 69.9%-5.3pp |
| Annual return | -5.32% | 3.01%-8.3pp | 119.21%-124.5pp | -9.96%+4.6pp |
| Employer contribution / active EE | $891 | $2,977-70.1% | $4,628-80.7% | $2,111-57.8% |
| Participant deferral / active EE | $4,981 | $5,423-8.2% | $6,426-22.5% | $3,350+48.7% |
| Admin fee / account holder | $430 | $554-22.3% | $9,284-95.4% | $521-17.4% |