Filed January 13, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK Service code 15 · EIN 01-0233346 | Recordkeeping | $1,200 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,297 | $52,626-61.4% | $98,442-79.4% | $93,030-78.2% |
| Participation rate | 21.2% | 65.3%-44.1pp | 73.3%-52.1pp | 73.9%-52.7pp |
| Annual return | 32.29% | 16.95%+15.3pp | 1492.73%-1460.4pp | 158.70%-126.4pp |
| Employer contribution / active EE | $635 | $1,894-66.5% | $2,960-78.6% | $2,706-76.5% |
| Participant deferral / active EE | $1,062 | $2,907-63.5% | $4,276-75.2% | $4,562-76.7% |
| Admin fee / account holder | $135 | $102+32.1% | $5,949-97.7% | $152-10.9% |