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| Provider | Service type | Compensation |
|---|---|---|
Filed as: GREAT LAKES PENSION ASSOCIATES, INC Service code 12 · EIN 38-2438760 37923 W. 12 MILE ROAD · FARMINGTON HILLS, MI 48331 | Participant loan processing; Claims p... | $5,295 |
Filed as: VOYA RETIREMENT INS AND ANNUITY CO. Service code 26 · EIN 71-0294708 | Advisory (Participants) | $2,970 |
MORNINGSTAR6 years Service code 26 · EIN 36-4317381 | Advisory (Participants) | $835 |
Filed as: VOYA RETIREMENT INS AND ANNUITY CO Service code 64 | Recordkeeping Fees | $2 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $32,993 | $72,303-54.4% | $86,698-61.9% | $64,819-49.1% |
| Participation rate | 42.0% | 80.4%-38.5pp | 76.6%-34.6pp | 71.5%-29.5pp |
| Annual return | -15.98% | 392.77%-408.8pp | 35.95%-51.9pp | 32.84%-48.8pp |
| Employer contribution / active EE | $0 | $2,393-100.0% | $2,837-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $2,705 | $4,660-41.9% | $4,656-41.9% | $4,311-37.2% |
| Admin fee / account holder | $42 | $174-75.9% | $7,493-99.4% | $188-77.6% |