Filed February 20, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $107,098 |
Filed as: RAYMOND JAMES FIN SVCS ADVISORS Service code 27 · EIN 59-2937883 | Advisory (Plan) | $30,000 |
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).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $137,717 | $70,917+94.2% | $98,916+39.2% | $73,493+87.4% |
| Participation rate | 75.4% | 73.8%+1.6pp | 76.0%-0.6pp | 70.7%+4.8pp |
| Annual return | 17.24% | 34.18%-16.9pp | 196.45%-179.2pp | 28.51%-11.3pp |
| Employer contribution / active EE | $0 | $2,037-100.0% | $2,689-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $3,465 | $3,501-1.0% | $4,245-18.4% | $3,740-7.3% |
| Admin fee / account holder | $409 | $535-23.6% | $6,642-93.8% | $513-20.3% |