Filed February 27, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO USA Service code 15 · EIN 01-0233346 | Recordkeeping | $1,778 |
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 | $28,333 | $30,979-8.5% | $67,704-58.2% | $59,188-52.1% |
| Participation rate | 42.7% | 40.5%+2.2pp | 67.5%-24.8pp | 69.4%-26.7pp |
| Annual return | 0.21% | -1.74%+2.0pp | 25.41%-25.2pp | 5.51%-5.3pp |
| Employer contribution / active EE | $841 | $807+4.2% | $2,559-67.1% | $2,098-59.9% |
| Participant deferral / active EE | $1,382 | $1,603-13.8% | $3,585-61.4% | $3,265-57.7% |
| Admin fee / account holder | -$10 | $81-112.0% | $4,255-100.2% | $92-110.6% |