Filed September 11, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $1,689 |
THE W.L. BURMEISTER COMPANY6 years Filed as: THE WL BURMEISTER COMPANY Service code 13 · EIN 38-2928964 | Contract Administrator | $561 |
Filed as: NORTHWESTERN MUTUAL INVESTEMNT SERV Service code 49 · EIN 52-2114207 | Other Services | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $54,836 | $52,122+5.2% | $104,294-47.4% | $64,808-15.4% |
| Participation rate | 22.7% | 56.0%-33.3pp | 73.3%-50.6pp | 71.5%-48.8pp |
| Annual return | -16.03% | 13.26%-29.3pp | 24.61%-40.6pp | 32.82%-48.8pp |
| Employer contribution / active EE | $684 | $1,627-57.9% | $3,372-79.7% | $2,506-72.7% |
| Participant deferral / active EE | $1,491 | $2,823-47.2% | $4,625-67.8% | $4,310-65.4% |
| Admin fee / account holder | $16 | $155-89.6% | $7,339-99.8% | $188-91.4% |