Filed October 11, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO USA Service code 15 · EIN 01-0233346 | Recordkeeping | $2,388 |
PBMARES, LLP5 years Service code 10 · EIN 54-0737372 701 TOWN CENTER DRIVE · NEWPORT NEWS, VA 23606 | Accounting | $0 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $62,704 | $122,239-48.7% | $184,203-66.0% | $74,495-15.8% |
| Participation rate | 96.5% | 85.5%+11.0pp | 86.8%+9.7pp | 67.2%+29.3pp |
| Annual return | 15.06% | 19.95%-4.9pp | 28.81%-13.8pp | 1364.94%-1349.9pp |
| Employer contribution / active EE | $6,590 | $4,537+45.2% | $6,427+2.5% | $2,623+151.2% |
| Participant deferral / active EE | $3,683 | $7,139-48.4% | $9,131-59.7% | $4,346-15.2% |
| Admin fee / account holder | $375 | $1,260-70.2% | $13,901-97.3% | $1,942-80.7% |