Filed December 15, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $44,184 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $12,785 |
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 | $52,269 | $83,023-37.0% | $102,437-49.0% | $77,762-32.8% |
| Participation rate | 37.4% | 71.5%-34.2pp | 74.5%-37.1pp | 70.6%-33.2pp |
| Annual return | 14.10% | 19.12%-5.0pp | 24.95%-10.8pp | 31.27%-17.2pp |
| Employer contribution / active EE | $1,023 | $3,552-71.2% | $3,871-73.6% | $2,728-62.5% |
| Participant deferral / active EE | $1,811 | $4,110-55.9% | $5,060-64.2% | $4,651-61.1% |
| Admin fee / account holder | $368 | $639-42.4% | $8,388-95.6% | $433-14.9% |