Filed October 19, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA RETIREMENT INSURANCE AND Service code 26 · EIN 71-0294708 ANNUITY COMPANY · HARTFORD, CT 061990067 | Advisory (Participants) | $1,230 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $25,847 | $27,330-5.4% | $67,711-61.8% | $55,191-53.2% |
| Participation rate | 30.1% | 47.5%-17.4pp | 67.5%-37.4pp | 69.2%-39.0pp |
| Annual return | -0.49% | 8.81%-9.3pp | 25.41%-25.9pp | 10.78%-11.3pp |
| Employer contribution / active EE | $790 | $855-7.5% | $2,559-69.1% | $1,899-58.4% |
| Participant deferral / active EE | $2,620 | $1,709+53.3% | $3,585-26.9% | $3,046-14.0% |
| Admin fee / account holder | $66 | $109-39.2% | $4,255-98.4% | $91-26.8% |