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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346 | Recordkeeping | $110 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant 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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $9,097 | $59,535-84.7% | $90,161-89.9% | $62,293-85.4% |
| Participation rate | 29.8% | 73.0%-43.2pp | 76.9%-47.0pp | 69.5%-39.7pp |
| Annual return | 28.89% | 23.53%+5.4pp | 34.89%-6.0pp | 28.90%0pp |
| Employer contribution / active EE | $0 | $1,826-100.0% | $3,318-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $876 | $4,639-81.1% | $5,287-83.4% | $3,169-72.4% |
| Admin fee / account holder | $94 | $337-72.0% | $5,943-98.4% | $479-80.3% |