Filed August 1, 2018
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA INSTITUTIONAL PLAN SERVICES Service code 37 · EIN 04-3516284 | Loan Processing | $232,752 |
Filed as: VOYA RETIREMENT ADVISORS Service code 26 · EIN 22-1862786 | Advisory (Participants) | $174,786 |
Service code 16 · EIN 04-3638035 | Consulting | $104,786 |
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 | $63,016 | $32,482+94.0% | $77,024-18.2% | $78,044-19.3% |
| Participation rate | 51.8% | 37.9%+13.9pp | 67.9%-16.1pp | 74.4%-22.7pp |
| Annual return | -16.57% | -7.74%-8.8pp | 42.32%-58.9pp | 10.87%-27.4pp |
| Employer contribution / active EE | $2,652 | $965+174.9% | $2,812-5.7% | $3,125-15.1% |
| Participant deferral / active EE | $5,323 | $2,316+129.8% | $4,426+20.2% | $5,084+4.7% |
| Admin fee / account holder | $75 | $107-30.5% | $5,425-98.6% | $79-5.5% |