Filed November 6, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,191 |
Employer 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 | $40,469 | $71,802-43.6% | $133,975-69.8% | $57,658-29.8% |
| Participation rate | 96.0% | 85.5%+10.6pp | 87.1%+9.0pp | 70.2%+25.8pp |
| Annual return | 7.12% | 13.51%-6.4pp | 29.29%-22.2pp | 5.13%+2.0pp |
| Employer contribution / active EE | $975 | $3,161-69.1% | $5,211-81.3% | $1,974-50.6% |
| Participant deferral / active EE | $5,662 | $4,606+22.9% | $6,282-9.9% | $3,061+85.0% |
| Admin fee / account holder | $21 | $88-75.6% | $9,324-99.8% | $95-77.4% |