Filed August 2, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $13,916 |
Filed as: MERRILL LYNCH LIFE AGENCY INC. Service code 49 · EIN 13-2808480 | Other Services | $0 |
Annual investment return 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).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,396 | $54,320-77.2% | $67,653-81.7% | $52,331-76.3% |
| Participation rate | 88.9% | 73.6%+15.3pp | 75.7%+13.2pp | 68.1%+20.8pp |
| Annual return | -4.27% | 6.81%-11.1pp | 6625.22%-6629.5pp | 4.54%-8.8pp |
| Employer contribution / active EE | $1,123 | $1,544-27.2% | $2,266-50.4% | $1,882-40.3% |
| Participant deferral / active EE | $2,165 | $2,950-26.6% | $3,560-39.2% | $3,022-28.4% |
| Admin fee / account holder | $89 | $527-83.1% | $4,821-98.1% | $592-84.9% |