Filed March 24, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $19,081 |
BERGIN ROBERTS & CO, LLC2 years Filed as: BERGIN ROBERTS & CO. LLC Service code 27 · EIN 26-4567336 | Advisory (Plan) | $7,905 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
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).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $17,475 | $80,753-78.4% | $136,294-87.2% | $62,292-71.9% |
| Participation rate | 67.6% | 73.5%-5.9pp | 81.9%-14.3pp | 69.5%-1.9pp |
| Annual return | 13.55% | 35.83%-22.3pp | 5155.94%-5142.4pp | 28.90%-15.3pp |
| Employer contribution / active EE | $1,546 | $2,884-46.4% | $4,695-67.1% | $2,042-24.3% |
| Participant deferral / active EE | $2,650 | $5,164-48.7% | $6,247-57.6% | $3,169-16.4% |
| Admin fee / account holder | $142 | $525-73.0% | $9,243-98.5% | $479-70.4% |