Filed November 14, 2022 (most recent of 2 filings on file)
Total covered: 61 employees
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $255,581 |
Filed as: RAYMOND JAMES FINANCIAL SERVICES IN Service code 49 · EIN 59-1531281 | Other Services | $66,501 |
Filed as: RAYMOND JAMES FIN SVCS ADVISORS Service code 27 · EIN 59-2937883 | Advisory (Plan) | $25,482 |
WILSHIRE ASSOCIATES INCORPORATED6+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
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 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 | $45,556 | $56,095-18.8% | $178,490-74.5% | $90,288-49.5% |
| Participation rate | 98.3% | 65.6%+32.7pp | 81.9%+16.4pp | 73.4%+24.9pp |
| Annual return | 17.82% | 28.81%-11.0pp | 151.07%-133.2pp | 53.97%-36.1pp |
| Employer contribution / active EE | $0 | $1,572-100.0% | $5,011-100.0% | $2,524-100.0% |
| Participant deferral / active EE | $4,031 | $2,669+51.1% | $5,202-22.5% | $4,232-4.7% |
| Admin fee / account holder | $116 | $101+14.9% | $13,984-99.2% | $114+1.4% |