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| Provider | Service type | Compensation |
|---|---|---|
JOHN HANCOCK LIFE INSURANCE COMPANY10+ years Service code 15 · EIN 01-0233346 RETIREMENT PLAN SERVICES, ET9 · BUFFALO, NY 142010600 | Recordkeeping | $85,708 |
Filed as: MERRILL LYNCH Service code 26 · EIN 13-5674085 150 N COLLEGE ST · CHARLOTTE, NC 28202 | Advisory (Participants) | $60,442 |
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.
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.)
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $84,416 | $241,850-65.1% | $102,412-17.6% | $199,960-57.8% |
| Participation rate | 25.0% | 78.3%-53.3pp | 74.5%-49.5pp | 72.0%-47.0pp |
| Annual return | 14.04% | 17.67%-3.6pp | 24.94%-10.9pp | 34.28%-20.2pp |
| Employer contribution / active EE | $409 | $4,253-90.4% | $3,870-89.4% | $3,036-86.5% |
| Participant deferral / active EE | $1,662 | $3,961-58.0% | $5,060-67.1% | $5,087-67.3% |
| Admin fee / account holder | $413 | $288+43.3% | $8,388-95.1% | $269+53.3% |