Filed September 17, 2024
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| 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 | $450 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $39,542 | $82,917-52.3% | $103,333-61.7% | $77,643-49.1% |
| Participation rate | 29.6% | 71.6%-41.9pp | 74.5%-44.9pp | 70.6%-41.0pp |
| Annual return | 13.96% | 19.13%-5.2pp | 24.88%-10.9pp | 31.24%-17.3pp |
| Employer contribution / active EE | $303 | $3,552-91.5% | $3,868-92.2% | $2,726-88.9% |
| Participant deferral / active EE | $2,337 | $4,108-43.1% | $5,057-53.8% | $4,647-49.7% |
| Admin fee / account holder | $306 | $638-52.0% | $8,355-96.3% | $430-28.8% |