Filed February 23, 2021
Total covered: 12 employees
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $45,255 |
Filed as: PRINCIPAL SECURITIES INC Service code 49 · EIN 42-0941553 | Other Services | $7,962 |
WILSHIRE ASSOCIATES INCORPORATED4+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $76,287 | $56,443+35.2% | $83,830-9.0% | $55,725+36.9% |
| Participation rate | 26.5% | 72.0%-45.5pp | 76.1%-49.6pp | 70.9%-44.3pp |
| Annual return | -5.85% | 393.67%-399.5pp | 850.97%-856.8pp | 244.93%-250.8pp |
| Employer contribution / active EE | $455 | $2,682-83.0% | $3,631-87.5% | $2,078-78.1% |
| Participant deferral / active EE | $1,395 | $2,965-52.9% | $4,082-65.8% | $3,356-58.4% |
| Admin fee / account holder | $180 | $156+15.4% | $5,479-96.7% | $115+56.5% |