Filed May 12, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $70,480 |
MORGAN STANLEY SMITH BARNEY4 years Filed as: MORGAN STANLEY Service code 49 · EIN 26-4310632 | Other Services | $30,003 |
MORNINGSTAR1 year Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $53,030 | $93,010-43.0% | $96,520-45.1% | $74,440-28.8% |
| Participation rate | 51.1% | 71.6%-20.4pp | 74.3%-23.2pp | 70.7%-19.6pp |
| Annual return | 14.74% | 37.50%-22.8pp | 35.72%-21.0pp | 34.37%-19.6pp |
| Employer contribution / active EE | $2,110 | $3,427-38.4% | $3,739-43.6% | $2,638-20.0% |
| Participant deferral / active EE | $1,611 | $3,971-59.4% | $4,879-67.0% | $4,529-64.4% |
| Admin fee / account holder | $262 | $633-58.6% | $6,733-96.1% | $348-24.7% |