Filed October 30, 2020
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH LIFE AGENCY, INC. Service code 49 · EIN 13-2808480 | Other Services | $22,981 |
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $5,096 |
Service code 49 · EIN 14-1759450 | Other Services | $4,120 |
Service code 49 · EIN 13-5674085 | Other Services | $2,987 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $72,206 | $107,378-32.8% | $108,582-33.5% | $57,658+25.2% |
| Participation rate | 56.6% | 77.1%-20.5pp | 79.6%-23.0pp | 70.2%-13.7pp |
| Annual return | 2.78% | 12.80%-10.0pp | -51.70%+54.5pp | 5.13%-2.4pp |
| Employer contribution / active EE | $1,024 | $1,782-42.5% | $3,758-72.8% | $1,974-48.1% |
| Participant deferral / active EE | $2,586 | $3,221-19.7% | $4,311-40.0% | $3,061-15.5% |
| Admin fee / account holder | $21 | $108-80.6% | $7,645-99.7% | $95-77.7% |