Filed March 6, 2024
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $3,232,736 |
Filed as: FIDELITY GLOBAL BROKERAGE GROUP INC Service code 33 · EIN 04-3257666 | Account maintenance fees; Securities ... | $23,244 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,650 | $47,540-18.7% | $79,591-51.4% | $89,433-56.8% |
| Participation rate | 64.0% | 54.9%+9.1pp | 69.5%-5.5pp | 71.3%-7.2pp |
| Annual return | -14.51% | -8.05%-6.5pp | 0.18%-14.7pp | -11.88%-2.6pp |
| Employer contribution / active EE | $567 | $1,122-49.4% | $2,413-76.5% | $3,021-81.2% |
| Participant deferral / active EE | $1,714 | $1,961-12.6% | $3,986-57.0% | $5,125-66.6% |
| Admin fee / account holder | $56 | $59-4.1% | $6,815-99.2% | $79-29.3% |