Filed September 8, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $331,400 |
BRIGHTWORXX LLC6 years Service code 13 18 GREAT OAK RD · ST. JAMES, NY 11780 | Contract Administrator | $143,834 |
Filed as: OLD SLIP REGISTERED INVESTMENT ADVI Service code 27 40 WALL STREET · NEW YORK, NY 10005 | Advisory (Plan) | $64,996 |
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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $40,930 | $119,627-65.8% | $146,958-72.1% | $99,062-58.7% |
| Participation rate | 29.3% | 73.4%-44.1pp | 82.2%-52.8pp | 71.6%-42.3pp |
| Annual return | 12.15% | 28.82%-16.7pp | 418.34%-406.2pp | 17.66%-5.5pp |
| Employer contribution / active EE | $124 | $4,153-97.0% | $4,933-97.5% | $3,262-96.2% |
| Participant deferral / active EE | $2,196 | $7,997-72.5% | $8,070-72.8% | $5,331-58.8% |
| Admin fee / account holder | $110 | $150-26.2% | $12,998-99.2% | $109+1.3% |