Filed January 20, 2023
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| Provider | Service type | Compensation |
|---|---|---|
Service code 13 · EIN 42-0127290 | Contract Administrator | $165,500 |
Filed as: PRINCIPAL SECURITIES INC Service code 27 · EIN 42-0941553 | Advisory (Plan) | $103,959 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 13 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Contract Administrator | $1,478 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $40,461 | $52,224-22.5% | $88,946-54.5% | $102,872-60.7% |
| Participation rate | 40.6% | 40.8%-0.1pp | 68.8%-28.2pp | 73.0%-32.4pp |
| Annual return | 22.44% | 16.96%+5.5pp | 57.82%-35.4pp | 19.06%+3.4pp |
| Employer contribution / active EE | $1,374 | $1,241+10.7% | $2,555-46.2% | $3,526-61.0% |
| Participant deferral / active EE | $3,040 | $2,611+16.4% | $4,581-33.6% | $5,535-45.1% |
| Admin fee / account holder | $121 | $1,723-93.0% | $8,261-98.5% | $292-58.7% |