Filed June 8, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: VOYA FINANCIAL ADVISORS Service code 27 3 S. MAIN · WEBB CITY, MO 64870 | Advisory (Plan) | $8,460 |
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $3,223 |
ARVEST INSURANCE INC3+ years Service code 49 · EIN 62-1713796 | Other Services | $0 |
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.
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 | $46,336 | $58,726-21.1% | $92,240-49.8% | $62,293-25.6% |
| Participation rate | 36.6% | 68.3%-31.7pp | 76.5%-39.9pp | 69.5%-32.9pp |
| Annual return | 15.34% | 43.62%-28.3pp | 176.29%-160.9pp | 28.90%-13.6pp |
| Employer contribution / active EE | $0 | $2,392-100.0% | $3,680-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $1,206 | $2,766-56.4% | $3,897-69.0% | $3,169-61.9% |
| Admin fee / account holder | $178 | $556-68.1% | $5,194-96.6% | $479-62.9% |