Filed September 27, 2024 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
CMFG LIFE INSURANCE COMPANY7+ years Service code 15 · EIN 39-0230590 | Recordkeeping | $100,031 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $68,975 | $121,341-43.2% | $189,513-63.6% | $79,386-13.1% |
| Participation rate | 99.0% | 86.1%+12.9pp | 87.8%+11.2pp | 70.7%+28.3pp |
| Annual return | 15.56% | 21.08%-5.5pp | 555.15%-539.6pp | 116.85%-101.3pp |
| Employer contribution / active EE | $4,381 | $3,915+11.9% | $6,162-28.9% | $2,427+80.5% |
| Participant deferral / active EE | $2,739 | $6,395-57.2% | $8,221-66.7% | $4,046-32.3% |
| Admin fee / account holder | $383 | $651-41.3% | $12,045-96.8% | $626-38.9% |