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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,520 |
Filed as: MML INSURANCE AGENCY LLC Service code 49 · EIN 04-3109325 | Other Services | $6,214 |
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 | $12,055 | $47,977-74.9% | $154,108-92.2% | $56,289-78.6% |
| Participation rate | 58.2% | 66.2%-7.9pp | 83.0%-24.8pp | 69.9%-11.6pp |
| Annual return | 6.47% | 3.54%+2.9pp | 735.21%-728.7pp | -9.96%+16.4pp |
| Employer contribution / active EE | $1,331 | $2,169-38.6% | $5,298-74.9% | $2,111-36.9% |
| Participant deferral / active EE | $693 | $2,392-71.0% | $5,081-86.4% | $3,350-79.3% |
| Admin fee / account holder | $72 | $438-83.6% | $13,411-99.5% | $521-86.2% |