Filed August 28, 2015
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $41,749 |
Service code 27 · EIN 45-2156557 | Advisory (Plan) | $21,472 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $58,594 | $59,191-1.0% | $76,767-23.7% | $56,289+4.1% |
| Participation rate | 85.7% | 75.2%+10.5pp | 77.0%+8.8pp | 69.9%+15.9pp |
| Annual return | -6.84% | 6.62%-13.5pp | 2.43%-9.3pp | -9.96%+3.1pp |
| Employer contribution / active EE | $2,241 | $1,759+27.4% | $2,485-9.8% | $2,111+6.2% |
| Participant deferral / active EE | $3,336 | $3,255+2.5% | $3,852-13.4% | $3,350-0.4% |
| Admin fee / account holder | $430 | $489-12.0% | $6,675-93.6% | $521-17.4% |