Filed October 26, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $48,083 |
USI CONSULTING GROUP1 year Filed as: USI ADVISORS, INC Service code 27 · EIN 06-1397347 | Advisory (Plan) | $22,500 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $89,503 | $75,183+19.0% | $123,894-27.8% | $55,167+62.2% |
| Participation rate | 99.1% | 72.8%+26.3pp | 81.4%+17.7pp | 69.0%+30.1pp |
| Annual return | 9.67% | 19.01%-9.3pp | 47.52%-37.8pp | 169.23%-159.6pp |
| Employer contribution / active EE | $4,199 | $2,823+48.7% | $4,617-9.1% | $1,963+113.9% |
| Participant deferral / active EE | $8,225 | $5,084+61.8% | $5,984+37.5% | $3,054+169.3% |
| Admin fee / account holder | $351 | $663-47.0% | $8,357-95.8% | $504-30.3% |