Filed January 20, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $157,277 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $109,182 |
Service code 49 · EIN 22-3123730 | Other Services | $9,907 |
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 | $65,819 | $110,699-40.5% | $177,848-63.0% | $90,274-27.1% |
| Participation rate | 60.5% | 88.3%-27.9pp | 87.7%-27.2pp | 73.4%-12.9pp |
| Annual return | 20.21% | 22.79%-2.6pp | 48.33%-28.1pp | 53.97%-33.8pp |
| Employer contribution / active EE | $876 | $4,118-78.7% | $5,919-85.2% | $2,523-65.3% |
| Participant deferral / active EE | $6,625 | $6,731-1.6% | $7,714-14.1% | $4,231+56.6% |
| Admin fee / account holder | $92 | $90+2.1% | $12,431-99.3% | $114-19.5% |