Filed September 28, 2022 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $67,564 |
WILSHIRE ASSOCIATES INCORPORATED3+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $34,998 | $90,410-61.3% | $91,004-61.5% | $77,958-55.1% |
| Participation rate | 64.0% | 86.4%-22.4pp | 75.6%-11.6pp | 71.6%-7.7pp |
| Annual return | 26.13% | 21.34%+4.8pp | 4.60%+21.5pp | 20.87%+5.3pp |
| Employer contribution / active EE | $840 | $3,392-75.2% | $2,456-65.8% | $2,310-63.7% |
| Participant deferral / active EE | $2,743 | $4,816-43.0% | $3,548-22.7% | $3,537-22.4% |
| Admin fee / account holder | $44 | $79-44.4% | $5,417-99.2% | $97-54.9% |