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 | $61,363 |
Service code 27 444 W 47TH STREET · KANSAS CITY, MO 64112 | Advisory (Plan) | $58,125 |
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 | $75,967 | $64,286+18.2% | $90,965-16.5% | $73,412+3.5% |
| Participation rate | 20.6% | 63.6%-43.0pp | 69.0%-48.4pp | 72.2%-51.6pp |
| Annual return | 5.52% | 21.46%-15.9pp | 134.57%-129.0pp | 59.30%-53.8pp |
| Employer contribution / active EE | $683 | $895-23.6% | $2,122-67.8% | $2,234-69.4% |
| Participant deferral / active EE | $1,197 | $2,453-51.2% | $3,373-64.5% | $3,806-68.5% |
| Admin fee / account holder | $418 | $287+45.5% | $5,960-93.0% | $158+164.6% |