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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $35,083 |
SIMA WEALTH PARTNERS1 year Service code 27 · EIN 45-3908643 | Advisory (Plan) | $13,337 |
Employer 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.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $64,306 | $63,314+1.6% | $91,004-29.3% | $62,293+3.2% |
| Participation rate | 71.4% | 73.3%-1.9pp | 75.6%-4.2pp | 69.5%+1.9pp |
| Annual return | 17.25% | 21.00%-3.7pp | 4.60%+12.6pp | 28.90%-11.6pp |
| Employer contribution / active EE | $0 | $1,807-100.0% | $2,456-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $2,374 | $2,944-19.3% | $3,548-33.1% | $3,169-25.1% |
| Admin fee / account holder | $303 | $468-35.3% | $5,417-94.4% | $479-36.9% |