Filed November 18, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $50,288 |
LOCKTON INVESTMENT ADVISORS, LLC3+ years Filed as: LOCKTON INVESTMENT ADVISORS Service code 27 · EIN 20-8874282 | Advisory (Plan) | $25,404 |
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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $49,273 | $61,214-19.5% | $83,333-40.9% | $56,287-12.5% |
| Participation rate | 61.6% | 72.6%-11.0pp | 77.8%-16.2pp | 69.9%-8.3pp |
| Annual return | -5.62% | 0.42%-6.0pp | 10.63%-16.3pp | -9.96%+4.3pp |
| Employer contribution / active EE | $1,254 | $1,925-34.9% | $3,379-62.9% | $2,111-40.6% |
| Participant deferral / active EE | $4,767 | $5,091-6.4% | $5,565-14.3% | $3,350+42.3% |
| Admin fee / account holder | $312 | $512-38.9% | $7,510-95.8% | $521-40.0% |