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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $5,974 |
BB&T1 year Filed as: BB&T INSTITUTIONAL SERVICES Service code 15 · EIN 56-0939887 | Recordkeeping | $3,753 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $15,232 | $58,726-74.1% | $92,240-83.5% | $62,293-75.5% |
| Participation rate | 28.7% | 68.3%-39.6pp | 76.5%-47.8pp | 69.5%-40.8pp |
| Annual return | 18.33% | 43.62%-25.3pp | 176.29%-158.0pp | 28.90%-10.6pp |
| Employer contribution / active EE | $1,132 | $2,392-52.7% | $3,680-69.2% | $2,042-44.6% |
| Participant deferral / active EE | $1,207 | $2,766-56.4% | $3,897-69.0% | $3,169-61.9% |
| Admin fee / account holder | $157 | $556-71.8% | $5,194-97.0% | $479-67.3% |