Filed March 15, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $39,434 |
Filed as: MESIROW FINANCIAL INC Service code 27 · EIN 36-3194849 | Advisory (Plan) | $19,997 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $65,633 | $54,320+20.8% | $67,652-3.0% | $52,331+25.4% |
| Participation rate | 98.0% | 73.6%+24.4pp | 75.7%+22.3pp | 68.1%+29.9pp |
| Annual return | -1.16% | 6.81%-8.0pp | 6625.40%-6626.6pp | 4.54%-5.7pp |
| Employer contribution / active EE | $1,301 | $1,544-15.7% | $2,266-42.6% | $1,882-30.9% |
| Participant deferral / active EE | $3,378 | $2,950+14.5% | $3,560-5.1% | $3,022+11.8% |
| Admin fee / account holder | $379 | $527-28.1% | $4,821-92.1% | $592-36.0% |