Filed May 17, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: CORNERSTONE ADVISORS ASSET MAN Service code 26 · EIN 75-3204798 | Advisory (Participants) | $38,800 |
Filed as: JOHN HANCOCK LIFE INS. CO. (U.S.A.) Service code 15 · EIN 01-0233346 | Recordkeeping | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $147,148 | $69,823+110.7% | $76,872+91.4% | $74,460+97.6% |
| Participation rate | 97.7% | 70.0%+27.6pp | 69.6%+28.1pp | 70.7%+26.9pp |
| Annual return | 16.26% | 19.99%-3.7pp | 37.90%-21.6pp | 34.38%-18.1pp |
| Employer contribution / active EE | $6,424 | $2,148+199.1% | $2,533+153.6% | $2,638+143.5% |
| Participant deferral / active EE | $6,128 | $3,558+72.3% | $3,832+59.9% | $4,530+35.3% |
| Admin fee / account holder | $568 | $398+42.9% | $5,476-89.6% | $348+63.4% |