Filed December 5, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $96,987 |
Filed as: MML INVESTORS SERVICES LLC Service code 49 · EIN 04-2746212 | Other Services | $88,892 |
THE BANK OF NEW YORK MELLON1+ years Filed as: PERSHING, LLC Service code 33 · EIN 13-2741729 | Securities brokerage; Account mainten... | $9,353 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $29,929 | $79,558-62.4% | $115,038-74.0% | $67,505-55.7% |
| Participation rate | 52.3% | 74.3%-22.0pp | 81.4%-29.0pp | 71.2%-18.9pp |
| Annual return | 6.14% | 4.65%+1.5pp | 26.14%-20.0pp | 6.52%-0.4pp |
| Employer contribution / active EE | $1,477 | $2,529-41.6% | $4,608-67.9% | $2,173-32.0% |
| Participant deferral / active EE | $3,689 | $5,510-33.1% | $6,026-38.8% | $3,597+2.6% |
| Admin fee / account holder | $19 | $60-68.2% | $8,175-99.8% | $56-66.2% |