Filed August 7, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $134,648 |
UBS FINANCIAL SERVICES INC8 years Service code 27 · EIN 13-2638166 | Advisory (Plan) | $54,492 |
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $111,569 | $89,436+24.7% | $164,813-32.3% | $77,643+43.7% |
| Participation rate | 98.1% | 78.6%+19.5pp | 78.6%+19.5pp | 70.6%+27.5pp |
| Annual return | 13.32% | 28.83%-15.5pp | 69.93%-56.6pp | 31.24%-17.9pp |
| Employer contribution / active EE | $2,879 | $2,569+12.1% | $4,341-33.7% | $2,726+5.6% |
| Participant deferral / active EE | $8,109 | $4,897+65.6% | $6,031+34.4% | $4,647+74.5% |
| Admin fee / account holder | $322 | $339-5.2% | $12,690-97.5% | $430-25.3% |