Filed February 18, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA RETIREMENT INS & ANNUITY CO Service code 26 · EIN 71-0294708 | Advisory (Participants) | $182 |
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.
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 | $14,003 | $27,330-48.8% | $67,704-79.3% | $55,191-74.6% |
| Participation rate | 2.2% | 47.5%-45.3pp | 67.5%-65.3pp | 69.2%-66.9pp |
| Annual return | -2.09% | 8.81%-10.9pp | 25.41%-27.5pp | 10.78%-12.9pp |
| Employer contribution / active EE | $0 | $855-100.0% | $2,559-100.0% | $1,899-100.0% |
| Participant deferral / active EE | $62 | $1,709-96.4% | $3,585-98.3% | $3,046-98.0% |
| Admin fee / account holder | $31 | $109-71.5% | $4,255-99.3% | $91-65.7% |