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 | $53,831 |
Service code 27 10001 MAINE AVE · LAKESIDE, CA 92040 | Advisory (Plan) | $19,730 |
Service code 13 917 WESTERN AMERICA CIRCLE, STE 500 · MOBILE, AL 36609 | Contract Administrator | $19,730 |
Filed as: EMPOWER ADVISORY GROUP LLC Service code 28 8515 EAST ORCHARD RD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $9,016 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant 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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,561 | $93,010-77.9% | $96,520-78.7% | $74,440-72.4% |
| Participation rate | 66.0% | 71.6%-5.5pp | 74.3%-8.3pp | 70.7%-4.7pp |
| Annual return | 15.00% | 37.50%-22.5pp | 35.72%-20.7pp | 34.37%-19.4pp |
| Employer contribution / active EE | $2,356 | $3,427-31.2% | $3,739-37.0% | $2,638-10.7% |
| Participant deferral / active EE | $1,241 | $3,971-68.7% | $4,879-74.6% | $4,529-72.6% |
| Admin fee / account holder | $151 | $633-76.2% | $6,733-97.8% | $348-56.6% |