Filed June 29, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $78,600 |
MMA SECURITIES LLC2 years Service code 27 · EIN 22-3570392 | Advisory (Plan) | $28,215 |
Service code 13 · EIN 58-1485803 | Contract Administrator | $12,598 |
SMITH & HOWARD, PC5 years Service code 10 · EIN 58-1250486 | Accounting | $10,000 |
Filed as: EMPOWER ANNUITY INSURANCE COMPANY Service code 64 8515 EAST ORCHARD ROAD · GREENWOOD VILLAGE, CO 80111 | Recordkeeping Fees | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $59,584 | $91,695-35.0% | $67,575-11.8% | $77,736-23.4% |
| Participation rate | 76.0% | 76.0%0pp | 72.9%+3.1pp | 70.6%+5.5pp |
| Annual return | 14.83% | 14.88%-0.1pp | 3528.98%-3514.1pp | 31.26%-16.4pp |
| Employer contribution / active EE | $1,853 | $3,189-41.9% | $2,736-32.3% | $2,728-32.1% |
| Participant deferral / active EE | $3,709 | $3,912-5.2% | $4,003-7.3% | $4,651-20.2% |
| Admin fee / account holder | $308 | $245+25.9% | $3,993-92.3% | $433-28.9% |