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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCCK LIFE INS CO Service code 15 · EIN 01-0233346 | Recordkeeping | $635 |
Service code 15 | Recordkeeping | $0 |
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.
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).
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 | $36,456 | $73,638-50.5% | $95,960-62.0% | $73,493-50.4% |
| Participation rate | 30.6% | 76.2%-45.6pp | 77.1%-46.5pp | 70.7%-40.1pp |
| Annual return | 14.15% | 16.78%-2.6pp | 91.63%-77.5pp | 28.51%-14.4pp |
| Employer contribution / active EE | $11 | $1,863-99.4% | $2,541-99.6% | $2,270-99.5% |
| Participant deferral / active EE | $1,748 | $3,617-51.7% | $4,167-58.1% | $3,740-53.3% |
| Admin fee / account holder | $32 | $482-93.3% | $6,797-99.5% | $513-93.7% |