Filed May 12, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $71,611 |
MORGAN STANLEY SMITH BARNEY3 years Filed as: MORGAN STANLEY Service code 49 · EIN 26-4310632 | Other Services | $32,662 |
Filed as: WILSHIRE ADVISORS LLC 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 | $57,635 | $106,236-45.7% | $112,249-48.7% | $64,819-11.1% |
| Participation rate | 49.2% | 71.7%-22.5pp | 75.1%-25.9pp | 71.5%-22.3pp |
| Annual return | -15.58% | -6.02%-9.6pp | 27.48%-43.1pp | 32.84%-48.4pp |
| Employer contribution / active EE | $2,234 | $3,166-29.4% | $3,636-38.6% | $2,507-10.9% |
| Participant deferral / active EE | $1,578 | $3,785-58.3% | $4,729-66.6% | $4,311-63.4% |
| Admin fee / account holder | $341 | $452-24.5% | $6,412-94.7% | $188+81.6% |