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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE OF NY Service code 15 · EIN 13-3646501 | Recordkeeping | $351 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.
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 | $20,054 | $94,529-78.8% | $140,019-85.7% | $64,173-68.8% |
| Participation rate | 49.4% | 84.1%-34.7pp | 87.5%-38.1pp | 69.6%-20.2pp |
| Annual return | 1.09% | 7.77%-6.7pp | 651.17%-650.1pp | 7.63%-6.5pp |
| Employer contribution / active EE | $706 | $3,812-81.5% | $5,605-87.4% | $2,381-70.4% |
| Participant deferral / active EE | $2,721 | $5,250-48.2% | $6,927-60.7% | $3,470-21.6% |
| Admin fee / account holder | $89 | $6,741-98.7% | $10,705-99.2% | $4,887-98.2% |