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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $5,959 |
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).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $15,708 | $58,726-73.3% | $92,233-83.0% | $62,292-74.8% |
| Participation rate | 27.2% | 68.3%-41.1pp | 76.5%-49.3pp | 69.5%-42.3pp |
| Annual return | 30.71% | 43.62%-12.9pp | 176.28%-145.6pp | 28.90%+1.8pp |
| Employer contribution / active EE | $577 | $2,392-75.9% | $3,679-84.3% | $2,042-71.8% |
| Participant deferral / active EE | $903 | $2,766-67.3% | $3,897-76.8% | $3,169-71.5% |
| Admin fee / account holder | $149 | $556-73.2% | $5,194-97.1% | $479-68.9% |