Filed June 16, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $39,396 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $38,378 |
Service code 10 3421 RIDGEWOOD RD STE 300 · AKRON, OH 44333 | Accounting | $11,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant 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 | $59,072 | $42,353+39.5% | $79,550-25.7% | $64,808-8.9% |
| Participation rate | 33.6% | 64.8%-31.2pp | 69.5%-35.9pp | 71.5%-37.9pp |
| Annual return | -14.80% | -12.24%-2.6pp | 0.16%-15.0pp | 32.82%-47.6pp |
| Employer contribution / active EE | $1,552 | $1,181+31.4% | $2,413-35.7% | $2,506-38.1% |
| Participant deferral / active EE | $1,330 | $3,170-58.1% | $3,985-66.6% | $4,310-69.2% |
| Admin fee / account holder | $207 | $160+29.7% | $6,832-97.0% | $188+10.2% |