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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK RETIREMENT PLAN SRVC Service code 15 · EIN 01-0233346 601 CONGRESS STREET · BOSTON, MA 02210 | Recordkeeping | $173,110 |
HOLLAND SHIPES PENNIX, LLP2 years Service code 10 · EIN 47-1471220 | Accounting | $16,990 |
SUNTRUST BANKS, INC.1 year Filed as: SUNTRUST BANK Service code 15 P.O. BOX 26489 · RICHMOND, VA 23261 | Recordkeeping | $8,673 |
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 | $29,568 | $80,360-63.2% | $90,161-67.2% | $77,958-62.1% |
| Participation rate | 47.4% | 81.9%-34.5pp | 76.9%-29.5pp | 71.6%-24.2pp |
| Annual return | 30.76% | 24.56%+6.2pp | 34.89%-4.1pp | 20.87%+9.9pp |
| Employer contribution / active EE | $504 | $2,326-78.3% | $3,318-84.8% | $2,310-78.2% |
| Participant deferral / active EE | $3,334 | $5,829-42.8% | $5,287-36.9% | $3,537-5.7% |
| Admin fee / account holder | $159 | $64+149.2% | $5,943-97.3% | $97+63.2% |