Filed November 29, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $208 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
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 | $3,960 | $23,385-83.1% | $69,182-94.3% | $57,658-93.1% |
| Participation rate | 4.0% | 37.9%-33.9pp | 55.1%-51.1pp | 70.2%-66.2pp |
| Annual return | 0.00% | -659.34%+659.3pp | -21.93%+21.9pp | 5.13%-5.1pp |
| Employer contribution / active EE | $0 | $422-100.0% | $1,206-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $24 | $843-97.2% | $1,897-98.7% | $3,061-99.2% |
| Admin fee / account holder | $13 | $82-84.2% | $2,697-99.5% | $95-86.2% |