Filed July 15, 2015
Total covered: 2 employees
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $18,179 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $12,414 |
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.
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 | $9,433 | $39,859-76.3% | $78,676-88.0% | $57,658-83.6% |
| Participation rate | 54.1% | 66.1%-12.0pp | 73.6%-19.5pp | 70.2%-16.1pp |
| Annual return | 10.96% | 18.96%-8.0pp | 62.19%-51.2pp | 5.13%+5.8pp |
| Employer contribution / active EE | $1,024 | $1,786-42.6% | $2,850-64.1% | $1,974-48.1% |
| Participant deferral / active EE | $630 | $2,248-72.0% | $3,517-82.1% | $3,061-79.4% |
| Admin fee / account holder | $38 | $76-49.6% | $4,510-99.1% | $95-59.4% |