Filed July 1, 2024
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| Provider | Service type | Compensation |
|---|---|---|
GENEOS WEALTH MANAGEMENT INC4 years Service code 49 · EIN 02-0580939 | Other Services | $20,762 |
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $900 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Annual investment return 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 | $26,966 | $50,812-46.9% | $155,602-82.7% | $77,692-65.3% |
| Participation rate | 19.4% | 63.1%-43.7pp | 78.2%-58.8pp | 70.6%-51.2pp |
| Annual return | 10.50% | 34.85%-24.4pp | 64.81%-54.3pp | 31.25%-20.8pp |
| Employer contribution / active EE | $823 | $1,989-58.6% | $4,675-82.4% | $2,726-69.8% |
| Participant deferral / active EE | $300 | $2,822-89.4% | $5,629-94.7% | $4,648-93.6% |
| Admin fee / account holder | $5 | $436-98.9% | $15,923-100.0% | $431-98.8% |