Filed February 18, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $17,968 |
MMA SECURITIES LLC3+ years Filed as: MMC SECURITIES LLC Service code 49 · EIN 06-1685865 | Other Services | $6,951 |
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).
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 | $18,110 | $55,453-67.3% | $170,442-89.4% | $62,292-70.9% |
| Participation rate | 82.7% | 66.4%+16.3pp | 83.6%-0.9pp | 69.5%+13.2pp |
| Annual return | 21.20% | 21.38%-0.2pp | 205.93%-184.7pp | 28.90%-7.7pp |
| Employer contribution / active EE | $0 | $2,164-100.0% | $5,433-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $2,840 | $2,303+23.3% | $4,939-42.5% | $3,169-10.4% |
| Admin fee / account holder | $81 | $455-82.1% | $13,880-99.4% | $479-83.0% |