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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INS. CO. Service code 15 · EIN 01-0233346 | Recordkeeping | $275 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $7,767 | $91,517-91.5% | $101,275-92.3% | $73,412-89.4% |
| Participation rate | 56.1% | 73.8%-17.7pp | 75.8%-19.7pp | 72.2%-16.1pp |
| Annual return | 12.82% | 17.17%-4.4pp | 46.48%-33.7pp | 59.30%-46.5pp |
| Employer contribution / active EE | $385 | $2,877-86.6% | $3,660-89.5% | $2,234-82.8% |
| Participant deferral / active EE | $1,536 | $3,338-54.0% | $4,371-64.8% | $3,806-59.6% |
| Admin fee / account holder | $113 | $216-47.4% | $5,948-98.1% | $158-28.1% |