Filed November 29, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $1,594 |
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.
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 | $10,905 | $28,416-61.6% | $73,545-85.2% | $69,631-84.3% |
| Participation rate | 2.6% | 38.3%-35.8pp | 54.9%-52.4pp | 70.7%-68.1pp |
| Annual return | 33.69% | -694.13%+727.8pp | -15.16%+48.9pp | 27571.02%-27537.3pp |
| Employer contribution / active EE | $0 | $430-100.0% | $1,219-100.0% | $2,032-100.0% |
| Participant deferral / active EE | $174 | $897-80.6% | $1,806-90.4% | $3,224-94.6% |
| Admin fee / account holder | $84 | $104-19.6% | $2,320-96.4% | $110-24.0% |