Filed December 12, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $66,916 |
CAPFINANCIAL PARTNERS LLC1+ years Service code 27 · EIN 26-0058143 | Advisory (Plan) | $23,392 |
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.
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 | $27,028 | $56,095-51.8% | $178,503-84.9% | $90,274-70.1% |
| Participation rate | 26.4% | 65.6%-39.2pp | 81.9%-55.6pp | 73.4%-47.0pp |
| Annual return | 12.91% | 28.81%-15.9pp | 151.12%-138.2pp | 53.97%-41.1pp |
| Employer contribution / active EE | $254 | $1,572-83.8% | $5,011-94.9% | $2,523-89.9% |
| Participant deferral / active EE | $631 | $2,669-76.4% | $5,202-87.9% | $4,231-85.1% |
| Admin fee / account holder | $191 | $101+90.0% | $13,987-98.6% | $114+67.6% |