Filed April 6, 2022
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| Provider | Service type | Compensation |
|---|---|---|
LPL FINANCIAL1 year Filed as: LPL FINANCIAL LLC Service code 49 · EIN 95-2834236 | Other Services | $12,252 |
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $975 |
Filed as: WILSHIRE ASSOCAITES INCORPORATED Service code 27 | Advisory (Plan) | $0 |
WILSHIRE ASSOCIATES INCORPORATED2+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
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).
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 | $29,111 | $42,546-31.6% | $71,796-59.5% | $55,167-47.2% |
| Participation rate | 49.4% | 59.1%-9.7pp | 69.1%-19.7pp | 69.0%-19.6pp |
| Annual return | 8.44% | 12.36%-3.9pp | 78.04%-69.6pp | 169.23%-160.8pp |
| Employer contribution / active EE | $294 | $803-63.4% | $1,924-84.7% | $1,963-85.0% |
| Participant deferral / active EE | $2,011 | $2,064-2.6% | $2,794-28.0% | $3,054-34.2% |
| Admin fee / account holder | $8 | $650-98.7% | $4,815-99.8% | $504-98.4% |