Filed September 17, 2024
| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $325 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant 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 | $33,617 | $93,010-63.9% | $96,543-65.2% | $74,478-54.9% |
| Participation rate | 24.3% | 71.6%-47.2pp | 74.3%-50.0pp | 70.7%-46.4pp |
| Annual return | 20.49% | 37.50%-17.0pp | 35.75%-15.3pp | 34.37%-13.9pp |
| Employer contribution / active EE | $235 | $3,427-93.1% | $3,741-93.7% | $2,637-91.1% |
| Participant deferral / active EE | $1,803 | $3,971-54.6% | $4,880-63.1% | $4,530-60.2% |
| Admin fee / account holder | $265 | $633-58.1% | $6,737-96.1% | $347-23.6% |