Filed August 23, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE CO OF AME Service code 64 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $62,874 |
CAVU WEALTH MANAGEMENT INC2 years Service code 27 10001 MAINE AVE · LAKESIDE, CA 92040 | Advisory (Plan) | $33,245 |
Service code 13 917 WESTERN AMERICA CIRCLE, STE 500 · MOBILE, AL 36609 | Contract Administrator | $17,665 |
Filed as: EMPOWER ADVISORY GROUP LLC Service code 28 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $11,430 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $28,142 | $82,917-66.1% | $103,333-72.8% | $77,643-63.8% |
| Participation rate | 68.3% | 71.6%-3.2pp | 74.5%-6.2pp | 70.6%-2.2pp |
| Annual return | 10.92% | 19.13%-8.2pp | 24.88%-14.0pp | 31.24%-20.3pp |
| Employer contribution / active EE | $3,979 | $3,552+12.0% | $3,868+2.9% | $2,726+46.0% |
| Participant deferral / active EE | $1,817 | $4,108-55.8% | $5,057-64.1% | $4,647-60.9% |
| Admin fee / account holder | $151 | $638-76.4% | $8,355-98.2% | $430-64.9% |