Filed March 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $171,475 |
MERCER6 years Filed as: MERCER INVESTMENT MANAGEMENT Service code 28 · EIN 13-2834414 | Investment Management | $20,000 |
Filed as: CBIZ CPAS P.C. Service code 10 · EIN 43-1947695 | Accounting | $17,490 |
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $85,649 | $155,364-44.9% | $103,476-17.2% | $77,643+10.3% |
| Participation rate | 97.4% | 85.5%+11.9pp | 80.5%+16.9pp | 70.6%+26.8pp |
| Annual return | 13.03% | 19.02%-6.0pp | 23.90%-10.9pp | 31.24%-18.2pp |
| Employer contribution / active EE | $6,735 | $5,949+13.2% | $4,672+44.2% | $2,726+147.1% |
| Participant deferral / active EE | $6,327 | $8,482-25.4% | $6,623-4.5% | $4,647+36.1% |
| Admin fee / account holder | $254 | $503-49.4% | $9,413-97.3% | $430-40.9% |