Filed March 10, 2021 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $40,643 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $17,211 |
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 | $72,503 | $46,332+56.5% | $143,797-49.6% | $64,824+11.8% |
| Participation rate | 21.8% | 64.2%-42.4pp | 80.3%-58.5pp | 71.5%-49.7pp |
| Annual return | -16.85% | -10.05%-6.8pp | -0.04%-16.8pp | 32.84%-49.7pp |
| Employer contribution / active EE | $0 | $1,911-100.0% | $4,952-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $2,363 | $2,647-10.7% | $5,638-58.1% | $4,311-45.2% |
| Admin fee / account holder | $508 | $154+230.2% | $14,679-96.5% | $188+170.5% |