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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INS. CO. OF NY Service code 15 · EIN 13-3646501 | Recordkeeping | $1,230 |
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 | $83,871 | $80,005+4.8% | $140,019-40.1% | $55,725+50.5% |
| Participation rate | 56.4% | 87.0%-30.6pp | 87.5%-31.1pp | 70.9%-14.5pp |
| Annual return | -2.63% | 0.46%-3.1pp | 651.17%-653.8pp | 244.93%-247.6pp |
| Employer contribution / active EE | $0 | $3,403-100.0% | $5,605-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $9,292 | $5,264+76.5% | $6,927+34.1% | $3,356+176.9% |
| Admin fee / account holder | $577 | $116+398.7% | $10,705-94.6% | $115+400.9% |