Filed October 22, 2020
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 6-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
EDWARD JONES2+ years Service code 27 · EIN 43-0345811 | Advisory (Plan) | $7,000 |
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127929 | Contract Administrator | $6,213 |
WILSHIRE ASSOCIATES INCORPORATED2+ years Service code 27 · EIN 95-2755361 | Advisory (Plan) | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $26,996 | $58,879-54.1% | $178,490-84.9% | $73,488-63.3% |
| Participation rate | 43.5% | 66.2%-22.7pp | 81.9%-38.4pp | 70.7%-27.2pp |
| Annual return | 20.68% | 24.86%-4.2pp | 151.07%-130.4pp | 28.51%-7.8pp |
| Employer contribution / active EE | $218 | $2,236-90.3% | $5,011-95.7% | $2,270-90.4% |
| Participant deferral / active EE | $1,935 | $2,567-24.6% | $5,202-62.8% | $3,740-48.3% |
| Admin fee / account holder | $68 | $400-82.9% | $13,984-99.5% | $513-86.7% |