Filed December 15, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $14,462 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $19,575 | $63,114-69.0% | $92,903-78.9% | $65,185-70.0% |
| Participation rate | 42.7% | 68.8%-26.0pp | 76.0%-33.3pp | 70.2%-27.5pp |
| Annual return | 27.31% | 28.75%-1.4pp | 109.43%-82.1pp | 29.38%-2.1pp |
| Employer contribution / active EE | $919 | $2,571-64.2% | $3,653-74.8% | $2,177-57.8% |
| Participant deferral / active EE | $1,715 | $3,108-44.8% | $4,238-59.5% | $3,514-51.2% |
| Admin fee / account holder | $149 | $624-76.1% | $5,795-97.4% | $847-82.4% |