Filed February 28, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $104,670 |
INDEPENDENT FINANCIAL GROUP LLC10+ years Service code 27 · EIN 71-0927304 | Advisory (Plan) | $51,468 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $77,162 | $60,393+27.8% | $81,820-5.7% | $74,429+3.7% |
| Participation rate | 67.6% | 62.9%+4.7pp | 72.4%-4.7pp | 67.2%+0.4pp |
| Annual return | 16.81% | 16.89%-0.1pp | 777.93%-761.1pp | 1368.38%-1351.6pp |
| Employer contribution / active EE | $2,380 | $2,626-9.4% | $2,915-18.3% | $2,625-9.3% |
| Participant deferral / active EE | $4,949 | $3,397+45.7% | $4,323+14.5% | $4,348+13.8% |
| Admin fee / account holder | $471 | $1,491-68.4% | $7,391-93.6% | $1,944-75.8% |