Filed September 14, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $19,672 |
WOODBURY FINANCIAL SERVICES2+ years Service code 49 · EIN 41-0944586 | Other Services | $15,824 |
MAXUS PLAN SOLUTIONS2+ years Filed as: MAXUS PLAN SOLUTIONS, INC Service code 13 · EIN 45-4012897 | Contract Administrator | $5,683 |
Filed as: MUTUAL OF AMERICA LIFE INSURANCE C Service code 12 · EIN 13-1614399 320 PARK AVENUE · NEW YORK, NY 10022 | Claims processing | $334 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $16,613 | $46,173-64.0% | $170,435-90.3% | $69,631-76.1% |
| Participation rate | 55.0% | 63.9%-8.9pp | 83.6%-28.5pp | 70.7%-15.6pp |
| Annual return | 13.70% | 21.62%-7.9pp | 205.94%-192.2pp | 27571.02%-27557.3pp |
| Employer contribution / active EE | $933 | $1,610-42.1% | $5,432-82.8% | $2,032-54.1% |
| Participant deferral / active EE | $1,212 | $2,080-41.8% | $4,939-75.5% | $3,224-62.4% |
| Admin fee / account holder | $61 | $116-47.7% | $13,881-99.6% | $110-45.1% |