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| Provider | Service type | Compensation |
|---|---|---|
LINCOLN NATIONAL CORPORATION2 years Service code 13 · EIN 35-1140070 | Contract Administrator | $979 |
Filed as: JOHN HANCOCK LIFE INS. CO. OF NY Service code 15 · EIN 13-3646501 | Recordkeeping | $716 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $4,619 | $59,535-92.2% | $90,161-94.9% | $62,293-92.6% |
| Participation rate | 64.2% | 73.0%-8.8pp | 76.9%-12.6pp | 69.5%-5.3pp |
| Annual return | 31.19% | 23.53%+7.7pp | 34.89%-3.7pp | 28.90%+2.3pp |
| Employer contribution / active EE | $0 | $1,826-100.0% | $3,318-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $3,346 | $4,639-27.9% | $5,287-36.7% | $3,169+5.6% |
| Admin fee / account holder | $10 | $337-96.9% | $5,943-99.8% | $479-97.8% |