Filed November 12, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: RAYMOND JAMES FSA INC. Service code 26 · EIN 59-2937883 | Advisory (Participants) | $45,406 |
Service code 13 · EIN 27-2487837 1110 N. MOUNTAIN RD · HARRISBURG, PA 17112 | Contract Administrator | $24,195 |
Filed as: EMPOWER ANNUITY INS CO. OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $13,974 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $2,707 |
JOHN HANCOCK LIFE INSURANCE COMPANY10+ years Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $66 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $101,170 | $89,435+13.1% | $164,975-38.7% | $77,714+30.2% |
| Participation rate | 61.4% | 78.6%-17.2pp | 78.6%-17.2pp | 70.6%-9.1pp |
| Annual return | 15.95% | 28.82%-12.9pp | 70.12%-54.2pp | 31.26%-15.3pp |
| Employer contribution / active EE | $816 | $2,563-68.2% | $4,343-81.2% | $2,727-70.1% |
| Participant deferral / active EE | $4,033 | $4,901-17.7% | $6,033-33.2% | $4,649-13.3% |
| Admin fee / account holder | $341 | $340+0.4% | $12,688-97.3% | $433-21.3% |