Filed February 18, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $18,441 |
Filed as: GREENSPRING ADVISORS Service code 27 · EIN 82-5320133 | Advisory (Plan) | $13,136 |
Employer contribution per participant is in the bottom quintile of the peer cohort.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
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).
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 | $23,171 | $52,953-56.2% | $172,739-86.6% | $65,185-64.5% |
| Participation rate | 77.8% | 66.2%+11.6pp | 82.6%-4.8pp | 70.2%+7.6pp |
| Annual return | 20.72% | 30.12%-9.4pp | 802.84%-782.1pp | 29.38%-8.7pp |
| Employer contribution / active EE | $0 | $2,190-100.0% | $5,143-100.0% | $2,177-100.0% |
| Participant deferral / active EE | $3,183 | $2,471+28.8% | $5,198-38.8% | $3,514-9.4% |
| Admin fee / account holder | $154 | $472-67.4% | $13,954-98.9% | $847-81.8% |