Filed April 28, 2022
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $14,845 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $39,292 | $65,125-39.7% | $143,797-72.7% | $66,949-41.3% |
| Participation rate | 66.7% | 65.2%+1.5pp | 80.3%-13.7pp | 69.8%-3.2pp |
| Annual return | 0.00% | -11.13%+11.1pp | -0.04%0pp | 1.57%-1.6pp |
| Employer contribution / active EE | $1,324 | $2,362-44.0% | $4,952-73.3% | $2,545-48.0% |
| Participant deferral / active EE | $1,756 | $2,920-39.9% | $5,638-68.9% | $4,239-58.6% |
| Admin fee / account holder | $118 | $503-76.6% | $14,679-99.2% | $594-80.2% |