Filed September 27, 2024 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
CMFG LIFE INSURANCE COMPANY8+ years Service code 15 · EIN 39-0230590 | Recordkeeping | $76,343 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $59,057 | $102,661-42.5% | $151,645-61.1% | $66,949-11.8% |
| Participation rate | 92.6% | 85.5%+7.1pp | 87.5%+5.1pp | 69.8%+22.8pp |
| Annual return | -15.26% | -10.81%-4.4pp | 3.34%-18.6pp | 1.57%-16.8pp |
| Employer contribution / active EE | $4,907 | $4,184+17.3% | $6,165-20.4% | $2,545+92.8% |
| Participant deferral / active EE | $3,226 | $6,645-51.4% | $8,363-61.4% | $4,239-23.9% |
| Admin fee / account holder | $300 | $630-52.4% | $11,614-97.4% | $594-49.4% |