Filed March 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $61,645 |
GENEOS WEALTH MANAGEMENT INC3 years Filed as: GENEOS WEALTH MANAGEMENT, INC. Service code 27 · EIN 02-0580939 | Advisory (Plan) | $16,965 |
CORNWELL JACKSON1 year Filed as: CORNWELL JACKSON, PLLC Service code 10 6865 WINDCREST DR · PLANO, TX 75024 | Accounting | $14,940 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $39,652 | $93,010-57.4% | $96,515-58.9% | $74,460-46.7% |
| Participation rate | 29.3% | 71.6%-42.2pp | 74.3%-45.0pp | 70.7%-41.4pp |
| Annual return | 1.54% | 37.50%-36.0pp | 35.73%-34.2pp | 34.38%-32.8pp |
| Employer contribution / active EE | $662 | $3,427-80.7% | $3,740-82.3% | $2,638-74.9% |
| Participant deferral / active EE | $1,825 | $3,971-54.0% | $4,880-62.6% | $4,530-59.7% |
| Admin fee / account holder | $587 | $633-7.4% | $6,735-91.3% | $348+68.7% |