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 | $92,224-34.0% | $105,223-42.1% | $79,634-23.5% |
| Participation rate | 45.2% | 69.2%-23.9pp | 75.0%-29.8pp | 62.5%-17.3pp |
| Annual return | 17.52% | 88.65%-71.1pp | 180.65%-163.1pp | 36.46%-18.9pp |
| Employer contribution / active EE | $1,160 | $3,965-70.8% | $3,689-68.6% | $2,529-54.2% |
| Participant deferral / active EE | $2,016 | $3,834-47.4% | $5,072-60.3% | $3,835-47.4% |
| Admin fee / account holder | $380 | $1,121-66.1% | $8,859-95.7% | $1,002-62.1% |