Filed December 7, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 26 | Advisory (Participants) | $13,541 |
Filed as: JOHN HANCOCK USA Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $1,152 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $42,299 | $48,053-12.0% | $84,637-50.0% | $72,976-42.0% |
| Participation rate | 56.4% | 57.6%-1.2pp | 68.2%-11.9pp | 69.5%-13.1pp |
| Annual return | 23.69% | 37.39%-13.7pp | 258.82%-235.1pp | 81.02%-57.3pp |
| Employer contribution / active EE | $736 | $1,602-54.1% | $2,653-72.3% | $2,440-69.8% |
| Participant deferral / active EE | $6,274 | $2,681+134.0% | $3,900+60.9% | $3,608+73.9% |
| Admin fee / account holder | $367 | $3,395-89.2% | $4,914-92.5% | $5,124-92.8% |