Filed October 13, 2023 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,395 |
Service code 27 · EIN 25-1698003 | Advisory (Plan) | $12,043 |
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).
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 | $19,785 | $37,039-46.6% | $147,618-86.6% | $59,188-66.6% |
| Participation rate | 26.6% | 63.8%-37.1pp | 84.6%-58.0pp | 69.4%-42.8pp |
| Annual return | 4.77% | 7.19%-2.4pp | 61.98%-57.2pp | 5.51%-0.7pp |
| Employer contribution / active EE | $0 | $1,353-100.0% | $5,565-100.0% | $2,098-100.0% |
| Participant deferral / active EE | $611 | $2,094-70.8% | $4,895-87.5% | $3,265-81.3% |
| Admin fee / account holder | $85 | $60+40.7% | $11,612-99.3% | $92-8.1% |