Filed December 15, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $7,895 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $18,507 | $55,449-66.6% | $83,830-77.9% | $56,287-67.1% |
| Participation rate | 31.5% | 68.0%-36.5pp | 76.1%-44.7pp | 69.9%-38.4pp |
| Annual return | -13.05% | -1.38%-11.7pp | 850.97%-864.0pp | -9.96%-3.1pp |
| Employer contribution / active EE | $623 | $2,430-74.4% | $3,631-82.8% | $2,111-70.5% |
| Participant deferral / active EE | $1,314 | $2,935-55.2% | $4,082-67.8% | $3,350-60.8% |
| Admin fee / account holder | $132 | $656-79.9% | $5,479-97.6% | $521-74.7% |