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) | $0 |
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.
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 | $26,412 | $81,537-67.6% | $149,721-82.4% | $69,631-62.1% |
| Participation rate | 56.7% | 86.1%-29.4pp | 87.1%-30.3pp | 70.7%-13.9pp |
| Annual return | 19.67% | 22.79%-3.1pp | 1501.67%-1482.0pp | 27571.02%-27551.3pp |
| Employer contribution / active EE | $695 | $3,239-78.6% | $5,444-87.2% | $2,032-65.8% |
| Participant deferral / active EE | $4,437 | $4,994-11.2% | $6,568-32.5% | $3,224+37.6% |
| Admin fee / account holder | $92 | $107-13.5% | $11,282-99.2% | $110-16.3% |