Filed October 9, 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 | $34,503 |
UNITED BENEFITS GROUP11+ years Service code 13 PO BOX 169005 · KANSAS CITY, MO 64116 | Contract Administrator | $26,239 |
Service code 27 100 NORTH BROADWAY · ALBERT LEA, MN 56007 | Advisory (Plan) | $5,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $73,652 | $216,711-66.0% | $136,749-46.1% | $85,563-13.9% |
| Participation rate | 56.6% | 51.7%+4.8pp | 72.1%-15.6pp | 66.0%-9.4pp |
| Annual return | 14.12% | 15.26%-1.1pp | 24.33%-10.2pp | 31.51%-17.4pp |
| Employer contribution / active EE | $707 | $1,660-57.4% | $3,400-79.2% | $2,654-73.4% |
| Participant deferral / active EE | $2,115 | $2,635-19.7% | $4,692-54.9% | $4,375-51.7% |
| Admin fee / account holder | $180 | $1,223-85.3% | $11,386-98.4% | $834-78.5% |