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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,958 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $11,348 | $46,732-75.7% | $156,551-92.8% | $55,167-79.4% |
| Participation rate | 45.7% | 65.8%-20.1pp | 84.0%-38.3pp | 69.0%-23.3pp |
| Annual return | 8.23% | 17.72%-9.5pp | 32.23%-24.0pp | 169.23%-161.0pp |
| Employer contribution / active EE | $1,042 | $2,105-50.5% | $5,501-81.1% | $1,963-46.9% |
| Participant deferral / active EE | $556 | $2,204-74.8% | $4,871-88.6% | $3,054-81.8% |
| Admin fee / account holder | $110 | $418-73.8% | $13,028-99.2% | $504-78.2% |