Filed November 24, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $98,785 |
IMA WEALTH INC4+ years Service code 27 · EIN 48-1233289 | Advisory (Plan) | $34,975 |
STOCKMAN KAST RYAN1 year Service code 10 · EIN 84-1509584 | Accounting | $5,715 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
Opinion is qualified - a specific issue limited the scope or accuracy of the audit.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $10,131 | $52,960-80.9% | $86,640-88.3% | $80,157-87.4% |
| Participation rate | 35.7% | 62.4%-26.7pp | 71.7%-36.0pp | 72.9%-37.2pp |
| Annual return | 17.67% | 24.84%-7.2pp | 592.52%-574.9pp | 40.39%-22.7pp |
| Employer contribution / active EE | $467 | $2,138-78.1% | $3,024-84.6% | $2,977-84.3% |
| Participant deferral / active EE | $246 | $3,226-92.4% | $4,438-94.4% | $5,015-95.1% |
| Admin fee / account holder | $94 | $113-16.8% | $5,616-98.3% | $145-35.0% |