Filed August 19, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INS CO OF AMERICA Service code 64 · EIN 84-0467907 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $51,235 |
Service code 27 4340 REDWOOD HWY · SAN RAFAEL, CA 94903 | Advisory (Plan) | $20,540 |
Filed as: BENCHMARK RETIREMENT PLAN SERVICES Service code 13 2215 PLANK RD · FREDERICKSBURG, VA 22401 | Contract Administrator | $6,066 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $31,681 | $91,695-65.4% | $67,575-53.1% | $77,736-59.2% |
| Participation rate | 56.1% | 76.0%-19.9pp | 72.9%-16.8pp | 70.6%-14.5pp |
| Annual return | 17.65% | 14.88%+2.8pp | 3528.98%-3511.3pp | 31.26%-13.6pp |
| Employer contribution / active EE | $1,357 | $3,189-57.5% | $2,736-50.4% | $2,728-50.3% |
| Participant deferral / active EE | $3,761 | $3,912-3.9% | $4,003-6.1% | $4,651-19.1% |
| Admin fee / account holder | $247 | $245+1.0% | $3,993-93.8% | $433-42.9% |