Filed August 2, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $68,550 |
PENSION ASSURANCE LLP1 year Filed as: PENSION PLANNING CONSULTANTS Service code 13 · EIN 85-0402842 | Contract Administrator | $12,818 |
Service code 49 | Other Services | $8,187 |
Filed as: KESTRA INVESTMENT SERVICES Service code 49 · EIN 74-2794194 | Other Services | $0 |
NFP RETIREMENT INC2 years Filed as: NFP INSURANCE SERVICES, INC. Service code 49 · EIN 74-2470431 | Other Services | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $21,485 | $64,909-66.9% | $82,312-73.9% | $62,293-65.5% |
| Participation rate | 93.8% | 74.9%+18.9pp | 76.9%+16.9pp | 69.5%+24.3pp |
| Annual return | 37.71% | 21.18%+16.5pp | 25.88%+11.8pp | 28.90%+8.8pp |
| Employer contribution / active EE | $1,892 | $1,676+12.9% | $2,428-22.1% | $2,042-7.3% |
| Participant deferral / active EE | $3,695 | $3,103+19.1% | $3,706-0.3% | $3,169+16.6% |
| Admin fee / account holder | $327 | $440-25.5% | $5,608-94.2% | $479-31.7% |