Filed May 22, 2023
Total covered: 400 employees
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA RETIREMENT INS AND ANNUITY CO Service code 50 · EIN 71-0294708 | Direct Payment | $56,152 |
FRANKLIN TEMPLETON6 years Service code 28 47 WEST 200 SOUTH · SALT LAKE CITY, UT 84101 | Investment Management | $150 |
AMERICAN FUNDS9+ years Filed as: AMERICAN FUNDS SERVICE COMPANY Service code 28 P.O. BOX 2280 · NORFOLK, VA 23501 | Investment Management | $60 |
LINCOLN NATIONAL CORPORATION9+ years Service code 13 · EIN 35-1140070 | Contract Administrator | $25 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Retirees and beneficiaries make up 25% or more of total participants - indicates an ageing workforce or a frozen plan.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $30,287 | $175,259-82.7% | $149,723-79.8% | $139,487-78.3% |
| Participation rate | 100.0% | 83.4%+16.6pp | 78.8%+21.2pp | 80.3%+19.7pp |
| Annual return | 4.95% | 166.82%-161.9pp | 134.50%-129.5pp | 373.84%-368.9pp |
| Employer contribution / active EE | $174,639 | $5,478+3087.8% | $4,821+3522.2% | $4,755+3573.0% |
| Participant deferral / active EE | $182,042 | $6,522+2691.4% | $5,682+3103.6% | $6,713+2611.9% |
| Admin fee / account holder | $2,717 | $16,158-83.2% | $13,215-79.4% | $11,407-76.2% |