Filed February 19, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $31,631 |
Filed as: MERRILL LYNCH Service code 17 · EIN 13-5674085 | Pension Consulting | $19,786 |
Service code 13 · EIN 35-0472300 | Contract Administrator | $5,373 |
Annual investment return 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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $16,758 | $64,286-73.9% | $90,970-81.6% | $73,412-77.2% |
| Participation rate | 95.0% | 63.6%+31.4pp | 69.0%+26.0pp | 72.2%+22.8pp |
| Annual return | 6.91% | 21.46%-14.6pp | 134.60%-127.7pp | 59.30%-52.4pp |
| Employer contribution / active EE | $516 | $895-42.3% | $2,122-75.7% | $2,234-76.9% |
| Participant deferral / active EE | $1,592 | $2,453-35.1% | $3,373-52.8% | $3,806-58.2% |
| Admin fee / account holder | $72 | $287-75.1% | $5,961-98.8% | $158-54.7% |