Filed September 11, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $10,343 |
THE W.L. BURMEISTER COMPANY7 years Filed as: THE WL BURMEISTER COMPANY Service code 13 · EIN 38-2928964 | Contract Administrator | $6,745 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $67,544 | $57,739+17.0% | $112,273-39.8% | $74,440-9.3% |
| Participation rate | 22.3% | 55.6%-33.3pp | 72.4%-50.1pp | 70.7%-48.4pp |
| Annual return | 18.01% | 19.52%-1.5pp | 30.23%-12.2pp | 34.37%-16.4pp |
| Employer contribution / active EE | $723 | $1,675-56.8% | $3,431-78.9% | $2,638-72.6% |
| Participant deferral / active EE | $1,501 | $2,891-48.1% | $4,800-68.7% | $4,529-66.9% |
| Admin fee / account holder | $140 | $462-69.7% | $7,752-98.2% | $348-59.7% |