Filed August 2, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $73,167 |
Service code 49 · EIN 74-2794194 | Other Services | $10,466 |
PENSION ASSURANCE LLP2 years Filed as: PENSION PLANNING CONSULTANTS Service code 13 · EIN 85-0402842 | Contract Administrator | $9,015 |
PENSION ASSURANCE LLP1 year Filed as: PENSION PLANNING CONSULTANTS INC Service code 13 | Contract Administrator | $1,159 |
NFP RETIREMENT INC1 year Filed as: NFP INSURANCE SERVICES INC Service code 49 | Other Services | $1,124 |
NFP RETIREMENT INC3 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 | $23,069 | $59,186-61.0% | $76,766-69.9% | $56,287-59.0% |
| Participation rate | 91.2% | 75.2%+16.0pp | 77.0%+14.2pp | 69.9%+21.3pp |
| Annual return | -4.45% | 6.62%-11.1pp | 2.43%-6.9pp | -9.96%+5.5pp |
| Employer contribution / active EE | $1,906 | $1,759+8.4% | $2,485-23.3% | $2,111-9.7% |
| Participant deferral / active EE | $4,015 | $3,255+23.3% | $3,851+4.2% | $3,350+19.8% |
| Admin fee / account holder | $365 | $489-25.3% | $6,675-94.5% | $521-29.9% |