Filed March 6, 2024
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $3,087,052 |
Filed as: CHARELS SCHWAB & CO, INC. Service code 33 · EIN 94-1737782 | Direct payment from the plan; Securit... | $2,505 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $43,102 | $53,531-19.5% | $86,188-50.0% | $96,393-55.3% |
| Participation rate | 66.0% | 53.4%+12.6pp | 69.0%-3.0pp | 71.3%-5.3pp |
| Annual return | 12.36% | 20.51%-8.1pp | 1168.45%-1156.1pp | 22.88%-10.5pp |
| Employer contribution / active EE | $607 | $1,158-47.6% | $2,380-74.5% | $3,238-81.3% |
| Participant deferral / active EE | $1,774 | $1,965-9.7% | $3,985-55.5% | $5,455-67.5% |
| Admin fee / account holder | $54 | $55-1.9% | $6,852-99.2% | $74-26.4% |