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.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $77,162 | $60,323+27.9% | $81,812-5.7% | $74,495+3.6% |
| Participation rate | 67.6% | 62.9%+4.8pp | 72.3%-4.7pp | 67.2%+0.4pp |
| Annual return | 16.81% | 16.90%-0.1pp | 773.79%-757.0pp | 1364.94%-1348.1pp |
| Employer contribution / active EE | $2,380 | $2,620-9.2% | $2,912-18.3% | $2,623-9.2% |
| Participant deferral / active EE | $4,949 | $3,387+46.1% | $4,319+14.6% | $4,346+13.9% |
| Admin fee / account holder | $471 | $1,486-68.3% | $7,386-93.6% | $1,942-75.7% |