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| Provider | Service type | Compensation |
|---|---|---|
VERITAS WEALTH ADVISORS4+ years Service code 27 · EIN 20-0488076 | Advisory (Plan) | $9,941 |
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $2,366 |
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).
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 | $36,113 | $42,548-15.1% | $74,551-51.6% | $56,289-35.8% |
| Participation rate | 50.5% | 60.5%-10.0pp | 69.1%-18.7pp | 69.9%-19.4pp |
| Annual return | -6.28% | 12.40%-18.7pp | 32.53%-38.8pp | -9.96%+3.7pp |
| Employer contribution / active EE | $130 | $855-84.8% | $1,961-93.4% | $2,111-93.9% |
| Participant deferral / active EE | $2,327 | $2,277+2.2% | $3,108-25.1% | $3,350-30.5% |
| Admin fee / account holder | $130 | $467-72.3% | $5,059-97.4% | $521-75.1% |