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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $8,461 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 | Other Services | $5,705 |
Filed as: MERRILL LYNCH LIFE AGENCY Service code 49 · EIN 13-2808480 | Other Services | $0 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $52,145 | $52,884-1.4% | $84,753-38.5% | $55,167-5.5% |
| Participation rate | 21.1% | 67.5%-46.5pp | 76.6%-55.5pp | 69.0%-47.9pp |
| Annual return | 7.81% | 18.03%-10.2pp | 22.78%-15.0pp | 169.23%-161.4pp |
| Employer contribution / active EE | $739 | $2,233-66.9% | $3,574-79.3% | $1,963-62.4% |
| Participant deferral / active EE | $1,805 | $2,644-31.7% | $3,712-51.4% | $3,054-40.9% |
| Admin fee / account holder | $313 | $581-46.0% | $5,333-94.1% | $504-37.8% |