Filed December 27, 2024 (most recent of 6 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $136,200 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $120,809 | $122,695-1.5% | $184,185-34.4% | $199,874-39.6% |
| Participation rate | 62.2% | 87.0%-24.7pp | 86.8%-24.6pp | 72.0%-9.8pp |
| Annual return | 17.05% | 143.93%-126.9pp | 28.81%-11.8pp | 34.28%-17.2pp |
| Employer contribution / active EE | $867 | $4,581-81.1% | $6,426-86.5% | $3,036-71.4% |
| Participant deferral / active EE | $4,990 | $7,983-37.5% | $9,132-45.4% | $5,090-2.0% |
| Admin fee / account holder | $89 | $120-25.8% | $13,909-99.4% | $269-66.8% |