Filed August 22, 2024 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: PRINCIPAL COSTODIAL SOLUTIONS Service code 13 · EIN 51-0099493 | Contract Administrator | $105,027 |
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $68,363 |
MORNINGSTAR2 years Filed as: MORNINGSTAR INVESTMENT MANAGEMENT L Service code 26 · EIN 36-4317381 | Advisory (Participants) | $0 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $177,702 | $56,638+213.7% | $169,390+4.9% | $74,460+138.7% |
| Participation rate | 98.2% | 67.5%+30.7pp | 77.2%+21.1pp | 70.7%+27.5pp |
| Annual return | 15.46% | 24.75%-9.3pp | 406.07%-390.6pp | 34.38%-18.9pp |
| Employer contribution / active EE | $9,289 | $2,027+358.3% | $4,013+131.5% | $2,638+252.1% |
| Participant deferral / active EE | $3,894 | $4,223-7.8% | $6,222-37.4% | $4,530-14.0% |
| Admin fee / account holder | $497 | $307+62.1% | $9,015-94.5% | $348+42.8% |