Filed February 28, 2018
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $82,640 |
INDEPENDENT FINANCIAL GROUP LLC9+ years Service code 27 · EIN 71-0927304 | Advisory (Plan) | $41,115 |
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.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $66,518 | $58,264+14.2% | $86,612-23.2% | $71,457-6.9% |
| Participation rate | 65.4% | 65.0%+0.4pp | 71.7%-6.3pp | 67.9%-2.6pp |
| Annual return | 17.06% | 21.63%-4.6pp | 591.07%-574.0pp | 28.85%-11.8pp |
| Employer contribution / active EE | $2,165 | $2,574-15.9% | $3,022-28.4% | $2,588-16.3% |
| Participant deferral / active EE | $4,509 | $3,436+31.2% | $4,438+1.6% | $4,289+5.1% |
| Admin fee / account holder | $393 | $1,057-62.8% | $5,614-93.0% | $1,587-75.2% |