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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO. Service code 15 · EIN 01-0233346 | Recordkeeping | $108,712 |
Filed as: MERRILL LYNCH FAS Service code 26 · EIN 13-5674085 | Advisory (Participants) | $79,078 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,448 | $48,669-60.0% | $93,654-79.2% | $199,768-90.3% |
| Participation rate | 53.5% | 63.7%-10.2pp | 68.7%-15.3pp | 72.0%-18.6pp |
| Annual return | 20.74% | 15.38%+5.4pp | 133.34%-112.6pp | 34.26%-13.5pp |
| Employer contribution / active EE | $59 | $1,137-94.8% | $2,421-97.5% | $3,037-98.0% |
| Participant deferral / active EE | $1,988 | $2,823-29.6% | $4,413-54.9% | $5,090-60.9% |
| Admin fee / account holder | $95 | $195-51.4% | $8,282-98.9% | $269-64.8% |