Filed November 18, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $48,356 |
HAYS BENEFITS GROUP, LLC.1+ years Service code 27 · EIN 41-1798583 | Advisory (Plan) | $21,314 |
LOCKTON INVESTMENT ADVISORS, LLC1+ years Filed as: LOCKTON INVESTMENT ADVISORS Service code 27 · EIN 20-8874282 | Advisory (Plan) | $9,935 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $51,509 | $51,244+0.5% | $80,977-36.4% | $55,167-6.6% |
| Participation rate | 50.0% | 71.7%-21.7pp | 75.8%-25.8pp | 69.0%-19.0pp |
| Annual return | -39.46% | 17.39%-56.9pp | 17.11%-56.6pp | 169.23%-208.7pp |
| Employer contribution / active EE | $1,532 | $1,770-13.4% | $3,715-58.8% | $1,963-21.9% |
| Participant deferral / active EE | $8,032 | $4,418+81.8% | $5,696+41.0% | $3,054+163.0% |
| Admin fee / account holder | $302 | $398-24.1% | $5,517-94.5% | $504-40.0% |