Filed February 28, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $75,052 |
INDEPENDENT FINANCIAL GROUP LLC6+ years Service code 27 · EIN 71-0927304 | Advisory (Plan) | $33,855 |
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 | $55,599 | $66,124-15.9% | $90,461-38.5% | $73,497-24.4% |
| Participation rate | 69.3% | 69.7%-0.4pp | 72.7%-3.4pp | 70.7%-1.4pp |
| Annual return | 11.56% | 17.65%-6.1pp | 1294.76%-1283.2pp | 28.51%-17.0pp |
| Employer contribution / active EE | $1,852 | $2,346-21.1% | $3,264-43.3% | $2,270-18.4% |
| Participant deferral / active EE | $3,427 | $3,039+12.8% | $3,964-13.5% | $3,740-8.4% |
| Admin fee / account holder | $393 | $396-0.8% | $5,617-93.0% | $513-23.4% |