Filed March 10, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $39,491 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $15,386 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $86,532 | $56,540+53.0% | $185,849-53.4% | $86,821-0.3% |
| Participation rate | 22.3% | 65.5%-43.2pp | 81.7%-59.4pp | 72.3%-49.9pp |
| Annual return | 14.96% | 118.20%-103.2pp | 122.10%-107.1pp | 97.94%-83.0pp |
| Employer contribution / active EE | $0 | $1,844-100.0% | $5,169-100.0% | $2,406-100.0% |
| Participant deferral / active EE | $2,369 | $2,555-7.3% | $5,569-57.5% | $4,132-42.7% |
| Admin fee / account holder | $550 | $150+267.8% | $16,244-96.6% | $170+224.6% |