Filed March 13, 2025
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $17,340 |
Service code 49 · EIN 51-0120742 | Other Services | $9,930 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $12,343 | $36,916-66.6% | $156,551-92.1% | $57,658-78.6% |
| Participation rate | 35.4% | 63.4%-28.0pp | 84.0%-48.6pp | 70.2%-34.8pp |
| Annual return | 7.79% | 12.38%-4.6pp | 32.23%-24.4pp | 5.13%+2.7pp |
| Employer contribution / active EE | $0 | $1,571-100.0% | $5,501-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $598 | $1,926-68.9% | $4,871-87.7% | $3,061-80.4% |
| Admin fee / account holder | $89 | $82+7.9% | $13,028-99.3% | $95-5.9% |