Filed September 17, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA RETIREMENT INSURANCE Service code 27 · EIN 71-0294708 | Advisory (Plan) | $5,405 |
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.
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 | $21,792 | $71,802-69.6% | $133,975-83.7% | $57,658-62.2% |
| Participation rate | 49.0% | 85.5%-36.5pp | 87.1%-38.1pp | 70.2%-21.3pp |
| Annual return | 19.02% | 13.51%+5.5pp | 29.29%-10.3pp | 5.13%+13.9pp |
| Employer contribution / active EE | $583 | $3,161-81.6% | $5,211-88.8% | $1,974-70.5% |
| Participant deferral / active EE | $3,771 | $4,606-18.1% | $6,282-40.0% | $3,061+23.2% |
| Admin fee / account holder | $0 | $88-100.0% | $9,324-100.0% | $95-100.0% |