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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346 P.O. BOX 600 · BUFFALO, NY 142010600 | Recordkeeping | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return 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).
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 | $11,947 | $57,921-79.4% | $84,753-85.9% | $57,658-79.3% |
| Participation rate | 36.7% | 72.9%-36.3pp | 76.6%-39.9pp | 70.2%-33.5pp |
| Annual return | -7.45% | 10.24%-17.7pp | 22.78%-30.2pp | 5.13%-12.6pp |
| Employer contribution / active EE | $0 | $2,598-100.0% | $3,574-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $1,493 | $2,742-45.6% | $3,712-59.8% | $3,061-51.2% |
| Admin fee / account holder | $59 | $130-54.8% | $5,333-98.9% | $95-38.0% |