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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $17,477 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll 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).
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 | $27,773 | $59,186-53.1% | $76,768-63.8% | $56,287-50.7% |
| Participation rate | 52.6% | 75.2%-22.6pp | 77.0%-24.4pp | 69.9%-17.2pp |
| Annual return | -5.11% | 6.62%-11.7pp | 2.43%-7.5pp | -9.96%+4.9pp |
| Employer contribution / active EE | $923 | $1,759-47.5% | $2,485-62.9% | $2,111-56.3% |
| Participant deferral / active EE | $2,315 | $3,255-28.9% | $3,852-39.9% | $3,350-30.9% |
| Admin fee / account holder | $143 | $489-70.8% | $6,675-97.9% | $521-72.6% |