Filed February 22, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $21,675 |
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 | $13,505 | $43,423-68.9% | $78,676-82.8% | $55,167-75.5% |
| Participation rate | 96.6% | 68.0%+28.5pp | 73.6%+23.0pp | 69.0%+27.6pp |
| Annual return | 14.05% | 11.53%+2.5pp | 62.19%-48.1pp | 169.23%-155.2pp |
| Employer contribution / active EE | $2,817 | $1,997+41.1% | $2,850-1.2% | $1,963+43.5% |
| Participant deferral / active EE | $0 | $2,509-100.0% | $3,517-100.0% | $3,054-100.0% |
| Admin fee / account holder | $106 | $416-74.5% | $4,510-97.6% | $504-78.9% |