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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,061 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $44,518 | $63,471-29.9% | $68,808-35.3% | $66,938-33.5% |
| Participation rate | 19.0% | 60.0%-40.9pp | 69.0%-50.0pp | 69.8%-50.8pp |
| Annual return | -16.50% | -8.29%-8.2pp | -6.37%-10.1pp | 1.58%-18.1pp |
| Employer contribution / active EE | $0 | $1,776-100.0% | $2,656-100.0% | $2,545-100.0% |
| Participant deferral / active EE | $1,105 | $2,946-62.5% | $3,942-72.0% | $4,238-73.9% |
| Admin fee / account holder | $402 | $578-30.4% | $4,936-91.9% | $594-32.3% |