Filed July 9, 2020 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA INSTITUTIONAL PLAN SERVICES Service code 37 · EIN 04-3516284 | Loan Processing | $134,965 |
Filed as: VOYA RETIREMENT ADVISORS Service code 26 · EIN 22-1862786 | Advisory (Participants) | $99,072 |
CERITY PARTNERS1 year Filed as: CERITY Service code 26 · EIN 35-2467663 | Advisory (Participants) | $43,205 |
FORVIS, LLP1 year Filed as: FORVIS Service code 10 · EIN 44-0160260 | Accounting | $14,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $155,023 | $98,780+56.9% | $60,899+154.6% | $77,906+99.0% |
| Participation rate | 30.4% | 76.7%-46.3pp | 73.1%-42.7pp | 73.7%-43.3pp |
| Annual return | -16.58% | -11.56%-5.0pp | 16.92%-33.5pp | 12.16%-28.7pp |
| Employer contribution / active EE | $2,141 | $3,605-40.6% | $2,702-20.8% | $2,846-24.8% |
| Participant deferral / active EE | $2,044 | $4,200-51.3% | $3,817-46.4% | $4,805-57.5% |
| Admin fee / account holder | $566 | $89+538.7% | $3,225-82.5% | $133+326.8% |