Filed May 27, 2021
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $16,647 |
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,858 |
WILSHIRE ASSOCIATES INCORPORATED3+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $17,714 | $37,245-52.4% | $94,993-81.4% | $77,958-77.3% |
| Participation rate | 18.7% | 56.5%-37.7pp | 73.9%-55.1pp | 71.6%-52.9pp |
| Annual return | 28.29% | 22.72%+5.6pp | 27.14%+1.1pp | 20.87%+7.4pp |
| Employer contribution / active EE | $177 | $894-80.2% | $2,603-93.2% | $2,310-92.3% |
| Participant deferral / active EE | $656 | $1,828-64.1% | $3,317-80.2% | $3,537-81.4% |
| Admin fee / account holder | $21 | $59-64.7% | $4,960-99.6% | $97-78.6% |