Filed May 27, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $196,659 |
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY GLOBAL Service code 27 · EIN 20-8764829 | Advisory (Plan) | $70,787 |
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.
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 | $35,563 | $103,590-65.7% | $95,759-62.9% | $103,590-65.7% |
| Participation rate | 19.9% | 73.3%-53.4pp | 72.3%-52.3pp | 73.3%-53.4pp |
| Annual return | 26.68% | 33.13%-6.5pp | 28.42%-1.7pp | 33.13%-6.5pp |
| Employer contribution / active EE | $592 | $3,213-81.6% | $2,836-79.1% | $3,213-81.6% |
| Participant deferral / active EE | $999 | $5,214-80.8% | $4,244-76.5% | $5,214-80.8% |
| Admin fee / account holder | $134 | $114+17.4% | $5,678-97.6% | $114+17.4% |