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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $13,800 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $50,038 | $60,776-17.7% | $85,693-41.6% | $79,393-37.0% |
| Participation rate | 22.3% | 62.1%-39.8pp | 69.9%-47.5pp | 70.7%-48.4pp |
| Annual return | 12.81% | 16.57%-3.8pp | 21.49%-8.7pp | 116.87%-104.1pp |
| Employer contribution / active EE | $0 | $1,663-100.0% | $2,618-100.0% | $2,428-100.0% |
| Participant deferral / active EE | $927 | $2,919-68.2% | $3,923-76.4% | $4,046-77.1% |
| Admin fee / account holder | $431 | $438-1.6% | $6,874-93.7% | $627-31.2% |