Filed December 9, 2014
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $23,313 |
ADP BROKER-DEALER1+ years Filed as: PENSION CONSULTANTS Service code 16 · EIN 43-1685158 | Consulting | $22,675 |
ADP BROKER-DEALER1+ years Filed as: PENSION CONSULTANTS, INC Service code 27 · EIN 43-1685158 | Advisory (Plan) | $15,335 |
Service code 37 · EIN 04-2647786 | Loan Processing | $6,282 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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 | $26,113 | $63,905-59.1% | $74,184-64.8% | $57,658-54.7% |
| Participation rate | 64.7% | 79.8%-15.1pp | 76.6%-11.9pp | 70.2%-5.5pp |
| Annual return | 6.50% | 60.60%-54.1pp | 17.74%-11.2pp | 5.13%+1.4pp |
| Employer contribution / active EE | $942 | $1,840-48.8% | $2,370-60.3% | $1,974-52.3% |
| Participant deferral / active EE | $1,556 | $3,448-54.9% | $3,550-56.2% | $3,061-49.2% |
| Admin fee / account holder | $256 | $91+181.0% | $5,586-95.4% | $95+170.7% |