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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $3,580 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $34,010 | $50,385-32.5% | $75,501-55.0% | $62,293-45.4% |
| Participation rate | 30.3% | 67.7%-37.4pp | 72.4%-42.0pp | 69.5%-39.2pp |
| Annual return | 18.22% | 19.90%-1.7pp | 27.35%-9.1pp | 28.90%-10.7pp |
| Employer contribution / active EE | $518 | $1,537-66.3% | $2,352-78.0% | $2,042-74.7% |
| Participant deferral / active EE | $784 | $2,445-67.9% | $3,142-75.1% | $3,169-75.3% |
| Admin fee / account holder | $75 | $384-80.6% | $5,801-98.7% | $479-84.4% |