Filed May 1, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 · EIN 84-0467907 | Recordkeeping Fees | $54,087 |
Filed as: GALLACHER BENEFITS SERVICES INC DBA Service code 27 · EIN 26-0516431 | Advisory (Plan) | $32,983 |
FOLEY BENEFITS GROUP10+ years Service code 13 · EIN 31-1634880 | Contract Administrator | $6,597 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $95,929 | $78,562+22.1% | $105,608-9.2% | $74,429+28.9% |
| Participation rate | 60.3% | 72.8%-12.5pp | 75.3%-14.9pp | 67.2%-6.9pp |
| Annual return | 14.50% | 15.94%-1.4pp | 116.50%-102.0pp | 1368.38%-1353.9pp |
| Employer contribution / active EE | $2,511 | $2,521-0.4% | $3,167-20.7% | $2,625-4.3% |
| Participant deferral / active EE | $3,553 | $4,321-17.8% | $5,010-29.1% | $4,348-18.3% |
| Admin fee / account holder | $366 | $2,217-83.5% | $11,028-96.7% | $1,944-81.2% |