Filed December 15, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY11+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $48,636 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $15,766 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $60,890 | $77,788-21.7% | $119,126-48.9% | $64,728-5.9% |
| Participation rate | 45.2% | 69.4%-24.2pp | 75.8%-30.5pp | 57.9%-12.7pp |
| Annual return | 17.52% | 13.19%+4.3pp | 282.11%-264.6pp | 49.38%-31.9pp |
| Employer contribution / active EE | $1,160 | $4,031-71.2% | $4,034-71.3% | $2,243-48.3% |
| Participant deferral / active EE | $2,016 | $2,599-22.5% | $5,318-62.1% | $2,729-26.2% |
| Admin fee / account holder | $380 | $1,365-72.2% | $10,693-96.4% | $1,145-66.8% |