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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $23,581 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $15,531 | $75,284-79.4% | $91,004-82.9% | $69,631-77.7% |
| Participation rate | 31.4% | 80.4%-48.9pp | 75.6%-44.2pp | 70.7%-39.2pp |
| Annual return | 14.64% | 48.40%-33.8pp | 4.60%+10.0pp | 27571.02%-27556.4pp |
| Employer contribution / active EE | $602 | $2,473-75.7% | $2,456-75.5% | $2,032-70.4% |
| Participant deferral / active EE | $707 | $3,700-80.9% | $3,548-80.1% | $3,224-78.1% |
| Admin fee / account holder | $127 | $111+14.7% | $5,417-97.7% | $110+14.8% |