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| Provider | Service type | Compensation |
|---|---|---|
VERITAS WEALTH ADVISORS1+ years Service code 27 · EIN 20-0488076 | Advisory (Plan) | $8,706 |
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $5,014 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $35,428 | $33,745+5.0% | $64,105-44.7% | $55,191-35.8% |
| Participation rate | 27.8% | 59.4%-31.6pp | 68.2%-40.4pp | 69.2%-41.4pp |
| Annual return | -1.33% | 4.95%-6.3pp | 791.24%-792.6pp | 10.78%-12.1pp |
| Employer contribution / active EE | $61 | $641-90.5% | $1,820-96.7% | $1,899-96.8% |
| Participant deferral / active EE | $1,148 | $1,929-40.5% | $2,822-59.3% | $3,046-62.3% |
| Admin fee / account holder | $135 | $94+42.6% | $4,499-97.0% | $91+48.2% |