Filed June 16, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $58,397 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $48,274 |
Filed as: FIFTH THIRD BANK Service code 27 38 FOUNTAIN SQ PLZ · CINCINNATI, OH 45263 | Advisory (Plan) | $14,740 |
Service code 10 3421 RIDGEWOOD RD STE 300 · AKRON, OH 44333 | Accounting | $12,500 |
Filed as: MERRILL LYNCH, PIERCE, FENNER AND S Service code 15 · EIN 13-5674085 | Recordkeeping | $1,650 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $61,137 | $54,193+12.8% | $93,606-34.7% | $77,643-21.3% |
| Participation rate | 42.9% | 63.9%-21.0pp | 68.7%-25.8pp | 70.6%-27.7pp |
| Annual return | 8.91% | 30.54%-21.6pp | 133.20%-124.3pp | 31.24%-22.3pp |
| Employer contribution / active EE | $1,888 | $1,168+61.6% | $2,420-22.0% | $2,726-30.7% |
| Participant deferral / active EE | $1,689 | $3,144-46.3% | $4,411-61.7% | $4,647-63.7% |
| Admin fee / account holder | $242 | $576-58.0% | $8,285-97.1% | $430-43.8% |