Filed February 23, 2021
Total covered: 12 employees
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $65,208 |
FIRST NATIONAL BANK OF OMAHA2 years Filed as: FIRST NATIONAL BANK Service code 27 · EIN 47-0523079 | Advisory (Plan) | $29,799 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $101,899 | $91,517+11.3% | $101,264+0.6% | $73,412+38.8% |
| Participation rate | 36.1% | 73.8%-37.7pp | 75.8%-39.7pp | 72.2%-36.1pp |
| Annual return | 14.27% | 17.17%-2.9pp | 46.48%-32.2pp | 59.30%-45.0pp |
| Employer contribution / active EE | $642 | $2,877-77.7% | $3,660-82.5% | $2,234-71.3% |
| Participant deferral / active EE | $2,011 | $3,338-39.8% | $4,370-54.0% | $3,806-47.2% |
| Admin fee / account holder | $243 | $216+12.7% | $5,947-95.9% | $158+54.1% |