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 | $1,387 |
PBMARES, LLP3 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 | $49,147 | $102,553-52.1% | $151,611-67.6% | $66,914-26.6% |
| Participation rate | 90.6% | 85.5%+5.1pp | 87.5%+3.1pp | 69.8%+20.8pp |
| Annual return | -15.43% | -10.82%-4.6pp | 3.33%-18.8pp | 1.58%-17.0pp |
| Employer contribution / active EE | $5,558 | $4,180+32.9% | $6,166-9.9% | $2,544+118.4% |
| Participant deferral / active EE | $3,222 | $6,641-51.5% | $8,363-61.5% | $4,237-23.9% |
| Admin fee / account holder | $356 | $630-43.5% | $11,616-96.9% | $593-40.0% |