Filed November 13, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 835 COLEMAN BLVD · MT PLEASANT, SC 29464 | Advisory (Plan) | $37,357 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $12,748 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $44,648 | $100,923-55.8% | $150,045-70.2% | $74,304-39.9% |
| Participation rate | 77.0% | 70.1%+7.0pp | 82.3%-5.3pp | 60.3%+16.7pp |
| Annual return | 16.79% | 51.77%-35.0pp | 62.55%-45.8pp | 29.43%-12.6pp |
| Employer contribution / active EE | $0 | $3,463-100.0% | $4,693-100.0% | $2,241-100.0% |
| Participant deferral / active EE | $6,842 | $6,709+2.0% | $7,997-14.4% | $3,767+81.6% |
| Admin fee / account holder | $432 | $2,767-84.4% | $13,435-96.8% | $2,969-85.5% |