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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO. USA Service code 15 · EIN 01-0233346 RETIREMENT PLAN SERVICES, ET9 · BUFFALO, NY 142010600 | Recordkeeping | $0 |
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).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $6,334 | $46,072-86.3% | $69,779-90.9% | $55,167-88.5% |
| Participation rate | 51.6% | 67.5%-15.9pp | 71.8%-20.3pp | 69.0%-17.4pp |
| Annual return | 6.72% | 8.68%-2.0pp | 12.99%-6.3pp | 169.23%-162.5pp |
| Employer contribution / active EE | $616 | $1,500-58.9% | $2,338-73.7% | $1,963-68.6% |
| Participant deferral / active EE | $835 | $2,344-64.4% | $2,931-71.5% | $3,054-72.6% |
| Admin fee / account holder | $70 | $428-83.7% | $4,381-98.4% | $504-86.1% |