Filed September 1, 2023 (most recent of 2 filings on file)
Total covered: 2 employees
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $4,135 |
CAMPBELL ALBRECHT1 year Service code 37 · EIN 77-0536619 | Loan Processing | $400 |
Filed as: MASSMUTUAL Service code 15 · EIN 04-1590850 | Recordkeeping | $62 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,931 | $55,453-65.9% | $170,435-88.9% | $62,293-69.6% |
| Participation rate | 40.0% | 66.4%-26.4pp | 83.6%-43.6pp | 69.5%-29.5pp |
| Annual return | 12.82% | 21.38%-8.6pp | 205.94%-193.1pp | 28.90%-16.1pp |
| Employer contribution / active EE | $0 | $2,164-100.0% | $5,432-100.0% | $2,042-100.0% |
| Participant deferral / active EE | $1,091 | $2,303-52.6% | $4,939-77.9% | $3,169-65.6% |
| Admin fee / account holder | $101 | $455-77.7% | $13,881-99.3% | $479-78.9% |