Filed January 28, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $7,658 |
UBS FINANCIAL SERVICES INC1+ years Service code 22 · EIN 51-0120742 | Insurance Broker | $1,341 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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).
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 | $0 | $48,277-100.0% | $63,517-100.0% | $55,191-100.0% |
| Participation rate | 0.0% | 69.4%-69.4pp | 71.0%-71.0pp | 69.2%-69.2pp |
| Annual return | 18.84% | 2.37%+16.5pp | -70.30%+89.1pp | 10.78%+8.1pp |
| Employer contribution / active EE | $2,194 | $1,592+37.8% | $2,322-5.5% | $1,899+15.6% |
| Participant deferral / active EE | $4,029 | $2,432+65.6% | $2,953+36.4% | $3,046+32.3% |
| Admin fee / account holder | $0 | $86-100.0% | $5,892-100.0% | $91-100.0% |