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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $140 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $13,492 | $45,283-70.2% | $155,789-91.3% | $52,331-74.2% |
| Participation rate | 60.4% | 62.2%-1.8pp | 76.1%-15.7pp | 68.1%-7.7pp |
| Annual return | 30.96% | 1.80%+29.2pp | 71.54%-40.6pp | 4.54%+26.4pp |
| Employer contribution / active EE | $0 | $1,329-100.0% | $3,839-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $2,251 | $2,854-21.1% | $4,798-53.1% | $3,022-25.5% |
| Admin fee / account holder | $13 | $981-98.7% | $7,477-99.8% | $592-97.8% |