Filed February 7, 2022
Total covered: 24 employees
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 22720 FAIRVIEW CENTER DR. STE., 100 · FAIRVIEW PARK, OH 44126 | Contract Administrator | $47,916 |
Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $22,501 |
MALONEY & NOVOTNY LLC2 years Filed as: MALONEY + NOVOTNY LLC Service code 10 16060 COLLECTIONS CENTER DRIVE · CHICAGO, IL 60693 | Accounting | $15,775 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $15,518 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $43,128 | $50,982-15.4% | $154,803-72.1% | $85,563-49.6% |
| Participation rate | 17.9% | 59.8%-41.9pp | 78.1%-60.1pp | 66.0%-48.0pp |
| Annual return | 13.95% | 30.35%-16.4pp | 58.88%-44.9pp | 31.51%-17.6pp |
| Employer contribution / active EE | $75 | $1,708-95.6% | $4,305-98.3% | $2,654-97.2% |
| Participant deferral / active EE | $850 | $2,474-65.6% | $5,540-84.7% | $4,375-80.6% |
| Admin fee / account holder | $629 | $846-25.6% | $14,329-95.6% | $834-24.6% |