Filed July 29, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA RETIREMENT INSURANCE AND ANNUI Service code 27 · EIN 71-0294708 P.O. BOX 990067 · HARTFORD, CT 06199 | Advisory (Plan) | $2,856 |
MORNINGSTAR7+ years Service code 26 · EIN 36-3297908 | Advisory (Participants) | $0 |
Filed as: THE RETIREMENT ADVANTAGE, INC Service code 49 · EIN 39-1816008 | Other Services | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $39,507 | $79,438-50.3% | $106,551-62.9% | $79,393-50.2% |
| Participation rate | 49.4% | 74.2%-24.8pp | 76.1%-26.7pp | 70.7%-21.3pp |
| Annual return | 8.08% | 18.27%-10.2pp | 26.80%-18.7pp | 116.87%-108.8pp |
| Employer contribution / active EE | $610 | $2,235-72.7% | $2,819-78.3% | $2,428-74.9% |
| Participant deferral / active EE | $1,854 | $3,824-51.5% | $4,398-57.9% | $4,046-54.2% |
| Admin fee / account holder | $40 | $523-92.4% | $7,408-99.5% | $627-93.7% |