Filed February 27, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 26 · EIN 38-3040888 565 LAKESIDE DR. SE · GRAND RAPIDS, MI 49506 | Advisory (Participants) | $43,412 |
PLANTE & MORAN, PLLC1 year Filed as: PLANTE MORAN FINANCIAL ADVISOR Service code 26 · EIN 38-1357951 27400 NORTHWESTERN HIGHWAY · SOUTHFIELD, MI 48034 | Advisory (Participants) | $21,000 |
Filed as: JOHN HANCOCK LIFE INSURANCE CO USA Service code 15 · EIN 01-0233346 | Recordkeeping | $1,564 |
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.
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 | $37,526 | $43,717-14.2% | $81,473-53.9% | $77,958-51.9% |
| Participation rate | 42.0% | 42.5%-0.5pp | 68.0%-25.9pp | 71.6%-29.6pp |
| Annual return | -10.69% | 23.83%-34.5pp | 38.78%-49.5pp | 20.87%-31.6pp |
| Employer contribution / active EE | $843 | $919-8.3% | $2,568-67.2% | $2,310-63.5% |
| Participant deferral / active EE | $1,514 | $1,783-15.1% | $3,537-57.2% | $3,537-57.2% |
| Admin fee / account holder | $0 | $108-99.8% | $4,561-100.0% | $97-99.8% |