Filed May 27, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $156,961 |
Filed as: MORGAN STANLEY GLOBAL Service code 27 · EIN 20-8764829 | Advisory (Plan) | $140,340 |
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.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,450 | $101,517-75.9% | $109,895-77.8% | $101,517-75.9% |
| Participation rate | 27.8% | 74.6%-46.8pp | 74.2%-46.5pp | 74.6%-46.8pp |
| Annual return | 26.65% | 21.00%+5.7pp | 29.45%-2.8pp | 21.00%+5.7pp |
| Employer contribution / active EE | $633 | $2,973-78.7% | $2,842-77.7% | $2,973-78.7% |
| Participant deferral / active EE | $1,015 | $4,873-79.2% | $4,048-74.9% | $4,873-79.2% |
| Admin fee / account holder | $148 | $139+6.4% | $6,066-97.6% | $139+6.4% |