Filed September 23, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $69,732 |
GLOBAL RETIREMENT PARTNERS LLC5+ years Service code 27 · EIN 47-1411118 | Advisory (Plan) | $28,947 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $88,988 | $89,652-0.7% | $141,197-37.0% | $65,186+36.5% |
| Participation rate | 100.0% | 74.7%+25.3pp | 82.5%+17.5pp | 70.2%+29.8pp |
| Annual return | 24.34% | 32.79%-8.5pp | 71.41%-47.1pp | 29.39%-5.0pp |
| Employer contribution / active EE | $2,875 | $3,065-6.2% | $4,736-39.3% | $2,177+32.1% |
| Participant deferral / active EE | $8,513 | $5,691+49.6% | $6,710+26.9% | $3,514+142.3% |
| Admin fee / account holder | $331 | $569-41.8% | $10,265-96.8% | $847-60.9% |