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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $27,872 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $13,656 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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 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 | $36,997 | $42,383-12.7% | $76,523-51.7% | $64,186-42.4% |
| Participation rate | 62.0% | 58.1%+3.8pp | 68.0%-6.0pp | 69.6%-7.6pp |
| Annual return | -7.75% | -16.54%+8.8pp | -0.27%-7.5pp | 7.63%-15.4pp |
| Employer contribution / active EE | $3,987 | $1,563+155.0% | $2,647+50.6% | $2,381+67.5% |
| Participant deferral / active EE | $3,518 | $2,566+37.1% | $3,835-8.3% | $3,470+1.4% |
| Admin fee / account holder | $300 | $3,198-90.6% | $4,848-93.8% | $4,888-93.9% |