Filed February 20, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $138,085 |
Filed as: WORLD INVESTMENT ADVISORS, LLC Service code 27 · EIN 61-1758632 | Advisory (Plan) | $51,036 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $144,269 | $92,121+56.6% | $105,591+36.6% | $77,692+85.7% |
| Participation rate | 73.9% | 81.0%-7.1pp | 75.3%-1.4pp | 70.6%+3.3pp |
| Annual return | 16.41% | 17.84%-1.4pp | 116.43%-100.0pp | 31.25%-14.8pp |
| Employer contribution / active EE | $0 | $3,370-100.0% | $3,166-100.0% | $2,726-100.0% |
| Participant deferral / active EE | $4,092 | $5,388-24.1% | $5,008-18.3% | $4,648-12.0% |
| Admin fee / account holder | $533 | $219+143.2% | $11,024-95.2% | $431+23.8% |