Filed June 2, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK USA Service code 15 · EIN 01-0233346 RETIREMENT PLAN SERVICES, INC. ET9 · BUFFALO, NY 142010600 | Recordkeeping | $0 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $13,144 | $50,637-74.0% | $86,582-84.8% | $62,293-78.9% |
| Participation rate | 52.9% | 67.9%-15.0pp | 73.5%-20.6pp | 69.5%-16.6pp |
| Annual return | 13.93% | 20.80%-6.9pp | 965.08%-951.2pp | 28.90%-15.0pp |
| Employer contribution / active EE | $53 | $2,075-97.4% | $2,839-98.1% | $2,042-97.4% |
| Participant deferral / active EE | $1,066 | $2,611-59.2% | $3,609-70.5% | $3,169-66.4% |
| Admin fee / account holder | $113 | $413-72.6% | $4,904-97.7% | $479-76.3% |