Filed August 14, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $65,314 |
SAGEVIEW ADVISORY GROUP, LLC2+ years Filed as: SAGEVIEW ADVISORY GROUP Service code 27 · EIN 33-0818667 | Advisory (Plan) | $21,319 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $26,845 | $74,024-63.7% | $78,002-65.6% | $57,658-53.4% |
| Participation rate | 54.8% | 79.7%-25.0pp | 75.5%-20.7pp | 70.2%-15.4pp |
| Annual return | 9.54% | 12.14%-2.6pp | 425.99%-416.4pp | 5.13%+4.4pp |
| Employer contribution / active EE | $928 | $2,365-60.8% | $2,470-62.4% | $1,974-53.0% |
| Participant deferral / active EE | $2,987 | $3,533-15.5% | $3,497-14.6% | $3,061-2.4% |
| Admin fee / account holder | $136 | $93+45.7% | $5,481-97.5% | $95+43.6% |