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 | $122,128-58.4% | $147,080-65.5% | $199,960-74.6% |
| Participation rate | 60.7% | 78.2%-17.5pp | 82.2%-21.5pp | 72.0%-11.3pp |
| Annual return | 40.66% | 30.58%+10.1pp | 420.17%-379.5pp | 34.28%+6.4pp |
| Employer contribution / active EE | $519 | $4,093-87.3% | $4,933-89.5% | $3,036-82.9% |
| Participant deferral / active EE | $3,493 | $8,484-58.8% | $8,066-56.7% | $5,087-31.3% |
| Admin fee / account holder | $149 | $180-16.9% | $12,989-98.9% | $269-44.6% |