Filed February 22, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $20,571 |
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $12,044 | $41,854-71.2% | $73,836-83.7% | $52,331-77.0% |
| Participation rate | 96.9% | 66.2%+30.6pp | 73.4%+23.4pp | 68.1%+28.8pp |
| Annual return | 0.05% | 2.11%-2.1pp | 2268.06%-2268.0pp | 4.54%-4.5pp |
| Employer contribution / active EE | $2,791 | $1,920+45.3% | $2,787+0.1% | $1,882+48.3% |
| Participant deferral / active EE | $0 | $2,498-100.0% | $3,583-100.0% | $3,022-100.0% |
| Admin fee / account holder | $110 | $493-77.7% | $4,882-97.7% | $592-81.4% |