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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSUARNCE CO. Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $250 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $18,950 | $63,156-70.0% | $122,354-84.5% | $62,293-69.6% |
| Participation rate | 56.0% | 60.0%-4.1pp | 71.6%-15.7pp | 69.5%-13.6pp |
| Annual return | 15.52% | 20.61%-5.1pp | 30.28%-14.8pp | 28.90%-13.4pp |
| Employer contribution / active EE | $540 | $1,385-61.0% | $4,051-86.7% | $2,042-73.5% |
| Participant deferral / active EE | $705 | $2,321-69.6% | $3,287-78.6% | $3,169-77.8% |
| Admin fee / account holder | $240 | $440-45.5% | $5,479-95.6% | $479-50.0% |