Filed May 27, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $41,872 |
S B H U LIFE AGENCY INC2 years Service code 49 · EIN 13-2896238 | Other Services | $33,227 |
Filed as: MORGAN STANLEY INS SERVICES INC Service code 49 · EIN 51-0116113 | Other Services | $14,015 |
WILSHIRE ASSOCIATES INCORPORATED6+ 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.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match 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 | $25,605 | $93,223-72.5% | $104,639-75.5% | $93,223-72.5% |
| Participation rate | 18.0% | 74.9%-56.9pp | 74.1%-56.1pp | 74.9%-56.9pp |
| Annual return | 25.16% | 19.29%+5.9pp | 340.67%-315.5pp | 19.29%+5.9pp |
| Employer contribution / active EE | $445 | $2,680-83.4% | $2,682-83.4% | $2,680-83.4% |
| Participant deferral / active EE | $719 | $4,563-84.2% | $3,738-80.8% | $4,563-84.2% |
| Admin fee / account holder | $33 | $79-58.8% | $6,465-99.5% | $79-58.8% |