Filed March 10, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $17,148 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $66,137 | $62,928+5.1% | $172,753-61.7% | $67,582-2.1% |
| Participation rate | 21.4% | 64.5%-43.0pp | 82.6%-61.2pp | 71.3%-49.9pp |
| Annual return | 0.00% | 30.36%-30.4pp | 803.00%-803.0pp | 378.57%-378.6pp |
| Employer contribution / active EE | $0 | $1,636-100.0% | $5,144-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $1,448 | $2,145-32.5% | $5,198-72.1% | $3,539-59.1% |
| Admin fee / account holder | $302 | $167+81.3% | $13,956-97.8% | $142+112.3% |