Filed August 14, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $130,559 |
Service code 49 · EIN 52-2114207 | Other Services | $39,133 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $117,660 | $111,491+5.5% | $189,513-37.9% | $86,799+35.6% |
| Participation rate | 81.8% | 87.3%-5.5pp | 87.8%-6.0pp | 72.3%+9.5pp |
| Annual return | 15.17% | 83.50%-68.3pp | 555.15%-540.0pp | 97.91%-82.7pp |
| Employer contribution / active EE | $1,520 | $3,951-61.5% | $6,162-75.3% | $2,405-36.8% |
| Participant deferral / active EE | $5,054 | $6,437-21.5% | $8,221-38.5% | $4,131+22.3% |
| Admin fee / account holder | $387 | $189+105.3% | $12,045-96.8% | $170+128.5% |