Filed August 30, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $109,317 |
WILLIS TOWERS WATSON US LLC2 years Filed as: TOWERS WATSON INVESTMENT SERVICES, Service code 27 · EIN 52-1868818 | Advisory (Plan) | $50,218 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $50,814 | $122,219-58.4% | $147,096-65.5% | $199,921-74.6% |
| Participation rate | 60.7% | 78.3%-17.6pp | 82.2%-21.5pp | 72.0%-11.4pp |
| Annual return | 40.66% | 30.59%+10.1pp | 419.75%-379.1pp | 34.28%+6.4pp |
| Employer contribution / active EE | $519 | $4,096-87.3% | $4,936-89.5% | $3,035-82.9% |
| Participant deferral / active EE | $3,493 | $8,503-58.9% | $8,071-56.7% | $5,089-31.4% |
| Admin fee / account holder | $149 | $179-16.8% | $13,005-98.9% | $269-44.6% |