Filed June 5, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA RETIREMENT INS. AND ANNUITY CO Service code 27 | Advisory (Plan) | $39,357 |
ANNEX WEALTH MANAGEMENT LLC2+ years Filed as: ANNEX WEALTH MANAGEMENT, LLC Service code 99 · EIN 68-0524298 | Other Fees | $36,597 |
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $24,963 | $37,044-32.6% | $71,796-65.2% | $57,658-56.7% |
| Participation rate | 46.8% | 61.1%-14.3pp | 69.1%-22.3pp | 70.2%-23.4pp |
| Annual return | 17.09% | 12.64%+4.4pp | 78.04%-60.9pp | 5.13%+12.0pp |
| Employer contribution / active EE | $741 | $720+2.9% | $1,924-61.5% | $1,974-62.5% |
| Participant deferral / active EE | $1,441 | $1,974-27.0% | $2,794-48.4% | $3,061-52.9% |
| Admin fee / account holder | $39 | $101-61.3% | $4,815-99.2% | $95-58.7% |