Filed August 12, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK RETIREMENT PLAN SRVCS Service code 15 · EIN 01-0233346 | Recordkeeping | $66,918 |
Service code 27 444 W 47TH STREET · KANSAS CITY, MO 64112 | Advisory (Plan) | $53,375 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $59,679 | $40,174+48.6% | $84,020-29.0% | $67,579-11.7% |
| Participation rate | 20.8% | 62.7%-41.9pp | 69.0%-48.2pp | 71.3%-50.5pp |
| Annual return | 5.18% | 25.82%-20.6pp | 71.31%-66.1pp | 378.56%-373.4pp |
| Employer contribution / active EE | $387 | $808-52.0% | $1,984-80.5% | $2,148-82.0% |
| Participant deferral / active EE | $1,113 | $2,301-51.6% | $3,239-65.6% | $3,539-68.6% |
| Admin fee / account holder | $315 | $128+145.4% | $6,101-94.8% | $142+121.3% |