Filed April 5, 2016
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 3707 W MAPLE RD · BLOOMFIELD HILLS, MI 48301 | Advisory (Plan) | $31,635 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $28,335 |
BDO USA, LLP1 year Service code 10 5300 PATTERSON AVE SE · GRAND RAPIDS, MI 49512 | Accounting | $6,000 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $2,073 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $237,371 | $76,112+211.9% | $96,544+145.9% | $71,529+231.9% |
| Participation rate | 99.0% | 74.4%+24.6pp | 76.0%+23.0pp | 67.9%+31.1pp |
| Annual return | 14.08% | 22.80%-8.7pp | 25.88%-11.8pp | 28.97%-14.9pp |
| Employer contribution / active EE | $4,460 | $2,248+98.4% | $2,966+50.3% | $2,590+72.2% |
| Participant deferral / active EE | $7,852 | $4,217+86.2% | $4,851+61.8% | $4,291+83.0% |
| Admin fee / account holder | $490 | $2,708-81.9% | $8,254-94.1% | $1,588-69.2% |