Filed November 21, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $41,078 |
LEGACY ADVISORS LLC1 year Filed as: LEGACY ADVISORS, LLC Service code 27 · EIN 06-1659806 | Advisory (Plan) | $17,801 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $53,196 | $106,028-49.8% | $146,958-63.8% | $77,643-31.5% |
| Participation rate | 23.8% | 78.4%-54.6pp | 82.2%-58.4pp | 70.6%-46.8pp |
| Annual return | 10.65% | 56.73%-46.1pp | 418.34%-407.7pp | 31.24%-20.6pp |
| Employer contribution / active EE | $0 | $4,063-100.0% | $4,933-100.0% | $2,726-100.0% |
| Participant deferral / active EE | $957 | $7,990-88.0% | $8,070-88.1% | $4,647-79.4% |
| Admin fee / account holder | $483 | $337+43.2% | $12,998-96.3% | $430+12.3% |