Filed June 10, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $737,913 |
CREATIVE PLANNING LLC2 years Filed as: CREATIVE PLANNING Service code 27 · EIN 20-8874282 | Advisory (Plan) | $65,000 |
COSURGE CPAS1 year Service code 10 · EIN 93-4631829 | Accounting | $10,500 |
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.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $25,312 | $73,283-65.5% | $155,534-83.7% | $106,553-76.2% |
| Participation rate | 29.2% | 73.3%-44.1pp | 78.2%-49.0pp | 69.8%-40.6pp |
| Annual return | 14.48% | 15.76%-1.3pp | 64.92%-50.4pp | 17.37%-2.9pp |
| Employer contribution / active EE | $248 | $2,241-88.9% | $4,675-94.7% | $3,359-92.6% |
| Participant deferral / active EE | $994 | $4,567-78.2% | $5,630-82.3% | $5,562-82.1% |
| Admin fee / account holder | $88 | $56+57.2% | $15,900-99.4% | $80+10.3% |