Filed January 19, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $1,701 |
WILSHIRE ASSOCIATES INCORPORATED1+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $19,270 | $70,002-72.5% | $115,038-83.2% | $52,331-63.2% |
| Participation rate | 42.9% | 72.1%-29.2pp | 81.4%-38.5pp | 68.1%-25.2pp |
| Annual return | 13.39% | 4.04%+9.4pp | 26.14%-12.7pp | 4.54%+8.9pp |
| Employer contribution / active EE | $1,622 | $2,715-40.3% | $4,608-64.8% | $1,882-13.8% |
| Participant deferral / active EE | $3,413 | $4,920-30.6% | $6,026-43.4% | $3,022+12.9% |
| Admin fee / account holder | $14 | $566-97.6% | $8,175-99.8% | $592-97.7% |