Filed November 18, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $116,929 |
Filed as: CAMBRIDGE INVESTMENT RESEARCH ADVIS Service code 27 · EIN 42-1445429 | Advisory (Plan) | $66,961 |
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Plan reported corrective distributions (failed ADP/ACP testing).
Plan appears closed to new enrollment or frozen - balance-holders far exceed active participants, or the plan reports active distributions with no inflows. Exclude from peer benchmarks.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $38,050 | $167,484-77.3% | $151,611-74.9% | $134,475-71.7% |
| Participation rate | 75.0% | 88.4%-13.4pp | 87.5%-12.5pp | 81.2%-6.2pp |
| Annual return | -15.98% | 7.80%-23.8pp | 3.33%-19.3pp | 417.96%-433.9pp |
| Employer contribution / active EE | $112,379 | $6,829+1545.6% | $6,166+1722.6% | $4,740+2271.0% |
| Participant deferral / active EE | $346,713 | $8,986+3758.5% | $8,363+4045.6% | $6,400+5317.6% |
| Admin fee / account holder | $379 | $13,783-97.3% | $11,616-96.7% | $11,426-96.7% |