Filed October 12, 2022 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: KESTRA ADVISORY SERVICES Service code 27 · EIN 35-2552359 | Advisory (Plan) | $60,000 |
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $28,558 |
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.
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 | $46,337 | $260,849-82.2% | $105,736-56.2% | $75,289-38.5% |
| Participation rate | 28.7% | 51.6%-22.9pp | 76.3%-47.6pp | 72.4%-43.7pp |
| Annual return | -3.32% | 10.99%-14.3pp | 6.27%-9.6pp | -0.04%-3.3pp |
| Employer contribution / active EE | $117 | $848-86.2% | $3,268-96.4% | $2,405-95.1% |
| Participant deferral / active EE | $1,021 | $1,553-34.2% | $4,080-75.0% | $3,739-72.7% |
| Admin fee / account holder | $124 | $484-74.4% | $6,913-98.2% | $102+21.2% |