Filed September 14, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $58,616 |
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO CLEARING SERVCIES LLC Service code 27 | Advisory (Plan) | $21,067 |
MAXUS PLAN SOLUTIONS6+ years Filed as: MAXUS PLAN SOLUTIONS, INC Service code 13 · EIN 45-4012897 | Contract Administrator | $8,544 |
WELLS FARGO BANK, N.A.4 years Filed as: WELLS FARGO CLEARING SERVICES LLC Service code 27 · EIN 34-1542819 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $39,221 | $61,156-35.9% | $185,823-78.9% | $79,386-50.6% |
| Participation rate | 51.7% | 66.6%-14.9pp | 81.7%-30.0pp | 70.7%-19.0pp |
| Annual return | 19.80% | 19.45%+0.3pp | 122.05%-102.3pp | 116.85%-97.1pp |
| Employer contribution / active EE | $1,456 | $2,321-37.2% | $5,167-71.8% | $2,427-40.0% |
| Participant deferral / active EE | $2,793 | $2,789+0.2% | $5,568-49.8% | $4,046-31.0% |
| Admin fee / account holder | $305 | $710-57.1% | $16,237-98.1% | $626-51.4% |