Filed November 1, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $1,962 |
WILSHIRE ASSOCIATES INCORPORATED2+ years Filed as: WILSHIRE ADVISORS Service code 27 · EIN 95-2755361 | Advisory (Plan) | $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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $25,114 | $55,446-54.7% | $155,574-83.9% | $74,429-66.3% |
| Participation rate | 37.3% | 61.9%-24.6pp | 78.2%-40.9pp | 67.2%-29.9pp |
| Annual return | 38.16% | 269.20%-231.0pp | 64.87%-26.7pp | 1368.38%-1330.2pp |
| Employer contribution / active EE | $0 | $2,266-100.0% | $4,676-100.0% | $2,625-100.0% |
| Participant deferral / active EE | $4,688 | $2,836+65.3% | $5,629-16.7% | $4,348+7.8% |
| Admin fee / account holder | $1,910 | $1,743+9.6% | $15,914-88.0% | $1,944-1.8% |