Filed April 29, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $83,754 |
LPL FINANCIAL6 years Filed as: LPL FINANCIAL LLC - RPCP Service code 27 · EIN 04-3046611 | Advisory (Plan) | $6,110 |
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $56,876 | $88,890-36.0% | $102,423-44.5% | $77,643-26.7% |
| Participation rate | 56.3% | 80.9%-24.6pp | 76.5%-20.2pp | 70.6%-14.3pp |
| Annual return | 12.75% | 24.98%-12.2pp | 29.32%-16.6pp | 31.24%-18.5pp |
| Employer contribution / active EE | $1,026 | $2,698-62.0% | $3,023-66.1% | $2,726-62.4% |
| Participant deferral / active EE | $1,975 | $5,145-61.6% | $5,053-60.9% | $4,647-57.5% |
| Admin fee / account holder | $202 | $235-14.1% | $9,451-97.9% | $430-53.0% |