Filed January 13, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INS. CO. OF AMERICA Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $38,366 |
EVERHART ADVISORS3 years Filed as: EVERHART FINANCIAL GROUP INC Service code 27 535 METRO PL S, SUITE 100 · DUBLIN, OH 43017 | Advisory (Plan) | $33,232 |
Filed as: EMPOWER ADVISORY GROUP, LLC Service code 28 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Investment Management | $15,113 |
PROGRESSIVE PENSION ADMIN., INC.10+ years Service code 13 4560 VIA ROYALE, SUITE 4A · FORT MYERS, FL 33919 | Contract Administrator | $10,000 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $58,682 | $89,465-34.4% | $165,100-64.5% | $77,762-24.5% |
| Participation rate | 57.9% | 78.6%-20.8pp | 78.6%-20.7pp | 70.6%-12.7pp |
| Annual return | 12.45% | 28.86%-16.4pp | 70.21%-57.8pp | 31.27%-18.8pp |
| Employer contribution / active EE | $1,051 | $2,565-59.0% | $4,348-75.8% | $2,728-61.5% |
| Participant deferral / active EE | $2,696 | $4,904-45.0% | $6,035-55.3% | $4,651-42.0% |
| Admin fee / account holder | $320 | $340-5.8% | $12,696-97.5% | $433-26.1% |