Filed October 16, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 · EIN 04-1590850 | Recordkeeping Fees | $21,476 |
ALLIANCE BENEFIT GROUP8 years Filed as: ALLIANCE BENEFIT GROUP OF HOUSTON Service code 13 · EIN 76-0500416 | Contract Administrator | $2,256 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $44,569 | $52,507-15.1% | $129,406-65.6% | $74,478-40.2% |
| Participation rate | 38.3% | 53.9%-15.7pp | 69.6%-31.4pp | 67.2%-29.0pp |
| Annual return | 14.24% | 15.64%-1.4pp | 9468.18%-9453.9pp | 1370.56%-1356.3pp |
| Employer contribution / active EE | $1,242 | $1,534-19.0% | $4,155-70.1% | $2,626-52.7% |
| Participant deferral / active EE | $1,783 | $2,801-36.3% | $4,167-57.2% | $4,350-59.0% |
| Admin fee / account holder | $198 | $2,639-92.5% | $7,689-97.4% | $1,946-89.8% |