Filed June 22, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE Service code 15 · EIN 01-0233346 P.O.BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $2,140 |
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 | $49,358 | $89,093-44.6% | $102,434-51.8% | $77,736-36.5% |
| Participation rate | 82.9% | 80.9%+2.0pp | 76.5%+6.4pp | 70.6%+12.4pp |
| Annual return | 20.50% | 25.03%-4.5pp | 29.46%-9.0pp | 31.26%-10.8pp |
| Employer contribution / active EE | $1,741 | $2,699-35.5% | $3,023-42.4% | $2,728-36.2% |
| Participant deferral / active EE | $6,174 | $5,147+19.9% | $5,055+22.1% | $4,651+32.7% |
| Admin fee / account holder | $310 | $236+31.2% | $9,462-96.7% | $433-28.6% |