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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $94,757 |
Service code 27 · EIN 82-1646066 | Advisory (Plan) | $50,000 |
MAGII PENSION SERVICES LLC6+ years Service code 13 · EIN 26-2480211 | Contract Administrator | $33,967 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $136,372 | $73,638+85.2% | $95,960+42.1% | $73,493+85.6% |
| Participation rate | 90.2% | 76.2%+14.1pp | 77.1%+13.2pp | 70.7%+19.6pp |
| Annual return | 13.83% | 16.78%-2.9pp | 91.63%-77.8pp | 28.51%-14.7pp |
| Employer contribution / active EE | $3,163 | $1,863+69.8% | $2,541+24.5% | $2,270+39.3% |
| Participant deferral / active EE | $4,075 | $3,617+12.7% | $4,167-2.2% | $3,740+9.0% |
| Admin fee / account holder | $431 | $482-10.7% | $6,797-93.7% | $513-16.1% |