Filed March 20, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: PRINCIPAL LIFE INSURNACE COMPANY Service code 13 · EIN 42-0127290 | Contract Administrator | $53,706 |
Service code 17 · EIN 13-5674085 | Pension Consulting | $46,046 |
COASTAL PENSION SERVICES2 years Filed as: COASTAL PENSION SERVICES INC Service code 49 | Other Services | $8,660 |
COASTAL PENSION SERVICES1 year Service code 49 · EIN 52-1053785 | Other Services | $0 |
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 | Advisory (Participants) | $0 |
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $70,597 | $106,028-33.4% | $146,958-52.0% | $77,643-9.1% |
| Participation rate | 97.3% | 78.4%+18.9pp | 82.2%+15.1pp | 70.6%+26.7pp |
| Annual return | 18.37% | 56.73%-38.4pp | 418.34%-400.0pp | 31.24%-12.9pp |
| Employer contribution / active EE | $5,015 | $4,063+23.4% | $4,933+1.7% | $2,726+84.0% |
| Participant deferral / active EE | $9,990 | $7,990+25.0% | $8,070+23.8% | $4,647+115.0% |
| Admin fee / account holder | $306 | $337-9.3% | $12,998-97.6% | $430-28.9% |