Filed August 14, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $44,620 |
MORGAN STANLEY SMITH BARNEY1+ years Filed as: J P MORGAN SECURITIES LLC Service code 49 · EIN 13-3299429 | Other Services | $28,688 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $22,539 | $37,039-39.1% | $147,617-84.7% | $59,188-61.9% |
| Participation rate | 34.8% | 63.8%-28.9pp | 84.6%-49.8pp | 69.4%-34.6pp |
| Annual return | 3.90% | 7.19%-3.3pp | 61.98%-58.1pp | 5.51%-1.6pp |
| Employer contribution / active EE | $1,084 | $1,353-19.9% | $5,564-80.5% | $2,098-48.4% |
| Participant deferral / active EE | $1,765 | $2,094-15.7% | $4,895-63.9% | $3,265-45.9% |
| Admin fee / account holder | $96 | $60+60.1% | $11,612-99.2% | $92+4.5% |