Filed October 12, 2022 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Service code 27 · EIN 36-4291971 | Advisory (Plan) | $59,977 |
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $47,510 |
MORNINGSTAR3 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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 | $74,565 | $73,149+1.9% | $120,580-38.2% | $77,762-4.1% |
| Participation rate | 35.4% | 55.2%-19.8pp | 72.0%-36.6pp | 70.6%-35.2pp |
| Annual return | 9.16% | 18.24%-9.1pp | 107.48%-98.3pp | 31.27%-22.1pp |
| Employer contribution / active EE | $350 | $1,793-80.5% | $3,469-89.9% | $2,728-87.2% |
| Participant deferral / active EE | $2,415 | $3,006-19.6% | $4,995-51.7% | $4,651-48.1% |
| Admin fee / account holder | $226 | $660-65.8% | $9,418-97.6% | $433-47.8% |