Filed November 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK RETIREMENT PLAN SVCS. Service code 15 · EIN 01-0233346 | Recordkeeping | $130,782 |
Filed as: LOCKTON INVESTMENT ADVISORS Service code 27 · EIN 90-0007886 | Advisory (Plan) | $70,805 |
MAILLIE LLP1 year Service code 10 · EIN 23-1518888 | Accounting | $44,500 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $24,260 | $43,466-44.2% | $90,970-73.3% | $90,274-73.1% |
| Participation rate | 33.8% | 62.5%-28.7pp | 69.0%-35.2pp | 73.4%-39.6pp |
| Annual return | 67.08% | 25.26%+41.8pp | 134.60%-67.5pp | 53.97%+13.1pp |
| Employer contribution / active EE | $307 | $840-63.5% | $2,122-85.5% | $2,523-87.8% |
| Participant deferral / active EE | $1,068 | $2,138-50.0% | $3,373-68.3% | $4,231-74.8% |
| Admin fee / account holder | $125 | $92+36.3% | $5,961-97.9% | $114+9.8% |