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 | $1,890 |
PBMARES, LLP4 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.)
Annual investment return is in the bottom quintile of the peer cohort.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $51,164 | $130,294-60.7% | $170,028-69.9% | $71,495-28.4% |
| Participation rate | 98.2% | 86.2%+12.0pp | 87.0%+11.2pp | 67.9%+30.3pp |
| Annual return | 14.18% | 20.36%-6.2pp | 53.39%-39.2pp | 28.85%-14.7pp |
| Employer contribution / active EE | $5,700 | $4,385+30.0% | $6,788-16.0% | $2,589+120.1% |
| Participant deferral / active EE | $3,460 | $6,928-50.1% | $10,409-66.8% | $4,291-19.4% |
| Admin fee / account holder | $317 | $966-67.2% | $12,820-97.5% | $1,588-80.1% |