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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $25,431 |
Service code 49 · EIN 74-2794194 | Other Services | $5,780 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $2,832 | $26,906-89.5% | $61,373-95.4% | $77,904-96.4% |
| Participation rate | 18.7% | 33.4%-14.7pp | 52.6%-33.9pp | 73.7%-55.0pp |
| Annual return | -18.05% | -14.46%-3.6pp | 338.61%-356.7pp | 12.21%-30.3pp |
| Employer contribution / active EE | $0 | $521-100.0% | $1,159-100.0% | $2,848-100.0% |
| Participant deferral / active EE | $102 | $1,180-91.3% | $2,125-95.2% | $4,806-97.9% |
| Admin fee / account holder | $34 | $117-70.9% | $2,130-98.4% | $133-74.3% |