Filed July 8, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 65 MADISON AVE STE 300 · MORRISTOWN, NJ 07960 | Advisory (Plan) | $45,579 |
Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $14,012 |
Filed as: THE ANGELL PENSION GROUP, INC Service code 13 88 BOYD AVENUE · EAST PROVIDENCE, RI 02914 | Contract Administrator | $8,518 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $5,238 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $17,621 | $46,292-61.9% | $143,757-87.7% | $64,808-72.8% |
| Participation rate | 58.8% | 64.2%-5.4pp | 80.3%-21.5pp | 71.5%-12.6pp |
| Annual return | -17.13% | -10.05%-7.1pp | -0.04%-17.1pp | 32.82%-49.9pp |
| Employer contribution / active EE | $528 | $1,910-72.3% | $4,951-89.3% | $2,506-78.9% |
| Participant deferral / active EE | $1,392 | $2,646-47.4% | $5,637-75.3% | $4,310-67.7% |
| Admin fee / account holder | $234 | $154+52.2% | $14,673-98.4% | $188+24.6% |