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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 15 · EIN 84-0467907 | Recordkeeping | $30,098 |
NOVA 401(K) ASSOCIATES2 years Service code 13 10777 NORTHWEST FREEWAY · HOUSTON, TX 770927319 | Contract Administrator | $13,426 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $10,516 | $46,325-77.3% | $143,788-92.7% | $64,814-83.8% |
| Participation rate | 68.8% | 64.2%+4.5pp | 80.3%-11.5pp | 71.5%-2.7pp |
| Annual return | -13.49% | -10.05%-3.4pp | -0.03%-13.5pp | 32.84%-46.3pp |
| Employer contribution / active EE | $0 | $1,911-100.0% | $4,952-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $2,944 | $2,647+11.2% | $5,638-47.8% | $4,310-31.7% |
| Admin fee / account holder | $88 | $154-43.1% | $14,675-99.4% | $188-53.4% |