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| Provider | Service type | Compensation |
|---|---|---|
Filed as: JOHN HANCOCK LIFE INSURANCE CO Service code 15 · EIN 01-0233346 PO BOX 600 · BUFFALO, NY 14201 | Recordkeeping | $52 |
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.
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 | $33,457 | $48,364-30.8% | $71,796-53.4% | $62,881-46.8% |
| Participation rate | 24.1% | 60.6%-36.5pp | 69.1%-45.0pp | 69.3%-45.2pp |
| Annual return | 8.01% | 13.16%-5.1pp | 78.04%-70.0pp | 20.14%-12.1pp |
| Employer contribution / active EE | $163 | $1,042-84.3% | $1,924-91.5% | $2,281-92.8% |
| Participant deferral / active EE | $1,199 | $2,091-42.7% | $2,794-57.1% | $3,203-62.6% |
| Admin fee / account holder | $222 | $3,771-94.1% | $4,815-95.4% | $4,296-94.8% |