Filed December 16, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA RETIREMENT INSURANCE Service code 64 · EIN 71-0294708 6450 ROCKSIDE WOODS BLVD N #100 · INDEPENDENCE, OH 44131 | Recordkeeping Fees | $13,450 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $28,950 | $48,471-40.3% | $182,558-84.1% | $67,582-57.2% |
| Participation rate | 66.4% | 67.2%-0.8pp | 78.0%-11.6pp | 71.3%-4.9pp |
| Annual return | 24.55% | 31.08%-6.5pp | 148.59%-124.0pp | 378.57%-354.0pp |
| Employer contribution / active EE | $502 | $1,461-65.6% | $4,076-87.7% | $2,148-76.6% |
| Participant deferral / active EE | $3,635 | $3,324+9.3% | $5,526-34.2% | $3,539+2.7% |
| Admin fee / account holder | $23 | $151-84.7% | $8,594-99.7% | $142-83.7% |