Filed August 2, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $30,893 |
NFP RETIREMENT INC1 year Filed as: NFP INSURANCE SERVICES, INC. Service code 49 · EIN 74-2470431 | Other Services | $0 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $13,003 | $60,165-78.4% | $74,184-82.5% | $55,167-76.4% |
| Participation rate | 89.0% | 74.2%+14.8pp | 76.6%+12.3pp | 69.0%+20.0pp |
| Annual return | 7.35% | 10.00%-2.6pp | 17.74%-10.4pp | 169.23%-161.9pp |
| Employer contribution / active EE | $1,827 | $1,600+14.2% | $2,370-22.9% | $1,963-6.9% |
| Participant deferral / active EE | $3,274 | $2,973+10.1% | $3,550-7.8% | $3,054+7.2% |
| Admin fee / account holder | $139 | $419-66.8% | $5,586-97.5% | $504-72.4% |