Filed March 6, 2024
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $1,176,072 |
THE BANK OF NEW YORK MELLON1+ years Filed as: PERSHING, LLC Service code 33 · EIN 13-2741729 | Account maintenance fees; Securities ... | $40,562 |
WILSHIRE ASSOCIATES INCORPORATED1+ 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.
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 | $36,385 | $38,963-6.6% | $71,793-49.3% | $329,111-88.9% |
| Participation rate | 59.9% | 53.8%+6.1pp | 69.1%-9.2pp | 67.9%-8.0pp |
| Annual return | 10.58% | 9.85%+0.7pp | 78.04%-67.5pp | 16.35%-5.8pp |
| Employer contribution / active EE | $397 | $758-47.6% | $1,924-79.4% | $2,303-82.7% |
| Participant deferral / active EE | $1,094 | $1,286-15.0% | $2,794-60.9% | $3,682-70.3% |
| Admin fee / account holder | $26 | $50-48.6% | $4,815-99.5% | $754-96.6% |