Filed January 20, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $265,656 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $84,398 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $88,204 | $100,272-12.0% | $170,043-48.1% | $74,460+18.5% |
| Participation rate | 60.9% | 87.4%-26.4pp | 87.0%-26.1pp | 70.7%-9.8pp |
| Annual return | 12.24% | 66.12%-53.9pp | 53.40%-41.2pp | 34.38%-22.1pp |
| Employer contribution / active EE | $1,659 | $4,266-61.1% | $6,790-75.6% | $2,638-37.1% |
| Participant deferral / active EE | $13,965 | $7,147+95.4% | $10,410+34.1% | $4,530+208.3% |
| Admin fee / account holder | $318 | $235+35.6% | $12,824-97.5% | $348-8.5% |