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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $25,463 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer 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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,154 | $74,552-75.6% | $62,995-71.2% | $69,631-73.9% |
| Participation rate | 24.8% | 78.3%-53.5pp | 74.8%-50.0pp | 70.7%-45.9pp |
| Annual return | 25.75% | 15.77%+10.0pp | 87.57%-61.8pp | 27571.02%-27545.3pp |
| Employer contribution / active EE | $443 | $2,929-84.9% | $2,759-83.9% | $2,032-78.2% |
| Participant deferral / active EE | $1,298 | $2,974-56.4% | $3,329-61.0% | $3,224-59.7% |
| Admin fee / account holder | $77 | $59+29.9% | $3,600-97.9% | $110-30.1% |