Filed November 9, 2022 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $45,233 |
Filed as: ING FINANCIAL PARTNERS INC (IFP) Service code 27 · EIN 41-0945505 | Advisory (Plan) | $9,977 |
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $8,319 | $43,999-81.1% | $79,467-89.5% | $55,725-85.1% |
| Participation rate | 85.0% | 66.9%+18.1pp | 73.3%+11.7pp | 70.9%+14.2pp |
| Annual return | -8.27% | 1.81%-10.1pp | 718.30%-726.6pp | 244.93%-253.2pp |
| Employer contribution / active EE | $362 | $1,830-80.2% | $2,800-87.1% | $2,078-82.6% |
| Participant deferral / active EE | $1,240 | $2,538-51.1% | $3,704-66.5% | $3,356-63.0% |
| Admin fee / account holder | $93 | $118-21.2% | $5,104-98.2% | $115-19.5% |