Filed September 22, 2015
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $29,648 |
AMERITAS LIFE INSURANCE CORP3 years Filed as: AMERITAS INVESTMENT CORP Service code 49 · EIN 47-0663374 | Other Services | $1,518 |
Filed as: WILLSHIRE ASSOCIATES INCORPORATED Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $9,653 | $64,286-85.0% | $90,970-89.4% | $73,412-86.9% |
| Participation rate | 27.2% | 63.6%-36.3pp | 69.0%-41.8pp | 72.2%-44.9pp |
| Annual return | 15.38% | 21.46%-6.1pp | 134.58%-119.2pp | 59.30%-43.9pp |
| Employer contribution / active EE | $0 | $895-100.0% | $2,122-100.0% | $2,234-100.0% |
| Participant deferral / active EE | $460 | $2,453-81.3% | $3,373-86.4% | $3,806-87.9% |
| Admin fee / account holder | $126 | $287-56.1% | $5,960-97.9% | $158-20.1% |