Filed January 20, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $158,270 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $119,320 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $76,206 | $118,337-35.6% | $189,537-59.8% | $93,010-18.1% |
| Participation rate | 64.4% | 89.1%-24.7pp | 87.8%-23.4pp | 73.9%-9.5pp |
| Annual return | 18.00% | 21.77%-3.8pp | 555.34%-537.3pp | 158.70%-140.7pp |
| Employer contribution / active EE | $918 | $4,204-78.2% | $6,161-85.1% | $2,705-66.1% |
| Participant deferral / active EE | $7,161 | $7,123+0.5% | $8,220-12.9% | $4,561+57.0% |
| Admin fee / account holder | $86 | $100-13.7% | $12,048-99.3% | $152-43.3% |