Filed May 11, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $228,290 |
WELLS FARGO BANK, N.A.1 year Filed as: WELLS FARGO CLEARING SVCS (WF ADVS) Service code 27 · EIN 34-1542819 | Advisory (Plan) | $116,281 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $145,904 | $79,519+83.5% | $95,952+52.1% | $73,409+98.8% |
| Participation rate | 94.4% | 81.2%+13.2pp | 77.1%+17.3pp | 72.2%+22.2pp |
| Annual return | 17.08% | 19.20%-2.1pp | 91.61%-74.5pp | 59.29%-42.2pp |
| Employer contribution / active EE | $829 | $2,048-59.5% | $2,541-67.4% | $2,234-62.9% |
| Participant deferral / active EE | $7,303 | $4,138+76.5% | $4,167+75.3% | $3,805+91.9% |
| Admin fee / account holder | $396 | $184+114.7% | $6,795-94.2% | $158+150.6% |