Filed November 30, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $37,753 |
NFP RETIREMENT INC2+ years Filed as: NFP RETIREMENT INC. Service code 27 · EIN 33-0905143 | Advisory (Plan) | $31,437 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $46,243 | $50,919-9.2% | $155,556-70.3% | $77,762-40.5% |
| Participation rate | 35.0% | 63.1%-28.1pp | 78.2%-43.2pp | 70.6%-35.6pp |
| Annual return | 14.20% | 34.84%-20.6pp | 64.84%-50.6pp | 31.27%-17.1pp |
| Employer contribution / active EE | $661 | $1,991-66.8% | $4,675-85.9% | $2,728-75.8% |
| Participant deferral / active EE | $2,239 | $2,824-20.7% | $5,631-60.2% | $4,651-51.9% |
| Admin fee / account holder | $223 | $437-48.9% | $15,885-98.6% | $433-48.4% |