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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 142010600 | Recordkeeping | $328 |
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 | $25,919 | $36,916-29.8% | $156,551-83.4% | $57,658-55.0% |
| Participation rate | 41.5% | 63.4%-21.9pp | 84.0%-42.5pp | 70.2%-28.7pp |
| Annual return | 6.89% | 12.38%-5.5pp | 32.23%-25.3pp | 5.13%+1.8pp |
| Employer contribution / active EE | $158 | $1,571-89.9% | $5,501-97.1% | $1,974-92.0% |
| Participant deferral / active EE | $983 | $1,926-48.9% | $4,871-79.8% | $3,061-67.9% |
| Admin fee / account holder | $85 | $82+3.2% | $13,028-99.3% | $95-10.0% |