Filed May 12, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $74,470 |
Filed as: MORGAN STANLEY Service code 49 · EIN 26-4310632 | Other Services | $13,970 |
MORGAN STANLEY SMITH BARNEY6+ years Filed as: MORGAN STANLEY DW INC Service code 49 · EIN 94-1671384 | Other Services | $13,970 |
WILSHIRE ASSOCIATES INCORPORATED6+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $55,819 | $91,517-39.0% | $101,271-44.9% | $73,412-24.0% |
| Participation rate | 49.1% | 73.8%-24.6pp | 75.8%-26.7pp | 72.2%-23.0pp |
| Annual return | 12.90% | 17.17%-4.3pp | 46.48%-33.6pp | 59.30%-46.4pp |
| Employer contribution / active EE | $1,295 | $2,877-55.0% | $3,660-64.6% | $2,234-42.0% |
| Participant deferral / active EE | $1,346 | $3,338-59.7% | $4,371-69.2% | $3,806-64.6% |
| Admin fee / account holder | $312 | $216+44.4% | $5,948-94.8% | $158+97.3% |