Filed November 18, 2021
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| Provider | Service type | Compensation |
|---|---|---|
FGMC LIQUIDATING TRUST1 year Service code 13 · EIN 92-6174564 | Contract Administrator | $85,085 |
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $62,932 |
Filed as: CAMBRIDGE INVESTMENT RESEARCH ADVIS Service code 27 · EIN 20-1665305 | Advisory (Plan) | $54,897 |
MORNINGSTAR2 years 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.)
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $11,363 | $185,822-93.9% | $169,993-93.3% | $139,434-91.9% |
| Participation rate | 0.0% | 87.8%-87.8pp | 87.0%-87.0pp | 80.3%-80.3pp |
| Annual return | 12.00% | 60.50%-48.5pp | 53.37%-41.4pp | 372.94%-360.9pp |
| Employer contribution / active EE | $0 | $7,590-100.0% | $6,785-100.0% | $4,751-100.0% |
| Participant deferral / active EE | $0 | $11,622-100.0% | $10,408-100.0% | $6,710-100.0% |
| Admin fee / account holder | $62,670 | $15,381+307.5% | $12,815+389.0% | $11,403+449.6% |