Filed May 20, 2024
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| Provider | Service type | Compensation |
|---|---|---|
Service code 49 · EIN 74-2794194 | Other Services | $36,487 |
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $21,370 |
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $65,482 | $88,890-26.3% | $102,423-36.1% | $77,643-15.7% |
| Participation rate | 98.1% | 80.9%+17.2pp | 76.5%+21.6pp | 70.6%+27.5pp |
| Annual return | 14.07% | 24.98%-10.9pp | 29.32%-15.3pp | 31.24%-17.2pp |
| Employer contribution / active EE | $4,487 | $2,698+66.3% | $3,023+48.4% | $2,726+64.6% |
| Participant deferral / active EE | $6,878 | $5,145+33.7% | $5,053+36.1% | $4,647+48.0% |
| Admin fee / account holder | $42 | $235-82.0% | $9,451-99.6% | $430-90.2% |