Filed November 13, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: EMPOWER ANNUITY INSURANCE COMPANY O Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $72,936 |
Filed as: RAYMOND JAMES Service code 27 880 CARILLON PARKWAY · ST PETERSBURG, FL 33716 | Advisory (Plan) | $30,000 |
MOSS ADAMS LLP2 years Service code 10 PO BOX 101822 · PASADENA, CA 911891822 | Accounting | $15,000 |
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $96,069 | $59,159+62.4% | $159,960-39.9% | $66,914+43.6% |
| Participation rate | 87.6% | 68.1%+19.5pp | 78.0%+9.7pp | 69.8%+17.8pp |
| Annual return | -18.94% | -12.26%-6.7pp | 408.60%-427.5pp | 1.58%-20.5pp |
| Employer contribution / active EE | $0 | $1,983-100.0% | $4,226-100.0% | $2,544-100.0% |
| Participant deferral / active EE | $5,592 | $4,395+27.3% | $6,182-9.5% | $4,237+32.0% |
| Admin fee / account holder | $479 | $591-18.9% | $8,698-94.5% | $593-19.2% |