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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $82,793 |
MORNINGSTAR1+ years Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-2923857 | Advisory (Participants) | $0 |
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.
More than 10% of assets are held in cash - possible menu-design or default-fund problem.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $37,184 | $85,635-56.6% | $123,894-70.0% | $63,975-41.9% |
| Participation rate | 63.8% | 74.9%-11.1pp | 81.4%-17.6pp | 71.1%-7.3pp |
| Annual return | 64.56% | 15.74%+48.8pp | 47.52%+17.0pp | 48.65%+15.9pp |
| Employer contribution / active EE | $0 | $3,076-100.0% | $4,617-100.0% | $2,182-100.0% |
| Participant deferral / active EE | $1,864 | $5,667-67.1% | $5,984-68.8% | $3,356-44.5% |
| Admin fee / account holder | $24 | $75-67.7% | $8,357-99.7% | $70-65.7% |