Filed November 22, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $59,535 |
Filed as: KESTRA ADVISORY SERVICES, LLC Service code 27 · EIN 35-2552359 | Advisory (Plan) | $32,026 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
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 | $91,516 | $98,776-7.3% | $149,745-38.9% | $79,856+14.6% |
| Participation rate | 65.8% | 75.8%-10.0pp | 82.5%-16.7pp | 69.6%-3.8pp |
| Annual return | 11.81% | 27.38%-15.6pp | 276.72%-264.9pp | 31.71%-19.9pp |
| Employer contribution / active EE | $2,429 | $3,217-24.5% | $4,646-47.7% | $2,471-1.7% |
| Participant deferral / active EE | $8,375 | $5,681+47.4% | $6,843+22.4% | $3,741+123.9% |
| Admin fee / account holder | $307 | $6,053-94.9% | $9,312-96.7% | $5,306-94.2% |