Filed July 17, 2015
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER LIFE & ANNUITY INSURANCE CO Service code 15 · EIN 84-0467907 | Recordkeeping | $8,019 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $55,271 | $50,812+8.8% | $155,602-64.5% | $77,692-28.9% |
| Participation rate | 55.4% | 63.1%-7.7pp | 78.2%-22.8pp | 70.6%-15.1pp |
| Annual return | 13.39% | 34.85%-21.5pp | 64.81%-51.4pp | 31.25%-17.9pp |
| Employer contribution / active EE | $930 | $1,989-53.2% | $4,675-80.1% | $2,726-65.9% |
| Participant deferral / active EE | $1,487 | $2,822-47.3% | $5,629-73.6% | $4,648-68.0% |
| Admin fee / account holder | $13 | $436-97.1% | $15,923-99.9% | $431-97.0% |