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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $1,969 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $40,920 | $60,349-32.2% | $74,183-44.8% | $62,891-34.9% |
| Participation rate | 61.0% | 72.7%-11.8pp | 76.6%-15.6pp | 69.3%-8.3pp |
| Annual return | 5.36% | 21.37%-16.0pp | 17.74%-12.4pp | 20.14%-14.8pp |
| Employer contribution / active EE | $0 | $1,680-100.0% | $2,370-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $1,391 | $2,856-51.3% | $3,550-60.8% | $3,203-56.6% |
| Admin fee / account holder | $29 | $4,261-99.3% | $5,586-99.5% | $4,296-99.3% |