Filed September 13, 2022 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $21,415 |
LPL FINANCIAL1 year Filed as: LPL FINANCIAL LLC Service code 49 · EIN 95-2834236 | Other Services | $13,802 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $23,399 | $36,916-36.6% | $156,551-85.1% | $57,658-59.4% |
| Participation rate | 55.4% | 63.4%-8.0pp | 84.0%-28.6pp | 70.2%-14.8pp |
| Annual return | 6.45% | 12.38%-5.9pp | 32.23%-25.8pp | 5.13%+1.3pp |
| Employer contribution / active EE | $812 | $1,571-48.3% | $5,501-85.2% | $1,974-58.8% |
| Participant deferral / active EE | $1,812 | $1,926-5.9% | $4,871-62.8% | $3,061-40.8% |
| Admin fee / account holder | $125 | $82+51.0% | $13,028-99.0% | $95+31.8% |