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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $10,835 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $7,587 |
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).
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 | $68,304 | $58,726+16.3% | $92,240-25.9% | $62,293+9.6% |
| Participation rate | 19.5% | 68.3%-48.9pp | 76.5%-57.0pp | 69.5%-50.0pp |
| Annual return | 13.89% | 43.62%-29.7pp | 176.29%-162.4pp | 28.90%-15.0pp |
| Employer contribution / active EE | $838 | $2,392-65.0% | $3,680-77.2% | $2,042-59.0% |
| Participant deferral / active EE | $1,951 | $2,766-29.5% | $3,897-49.9% | $3,169-38.4% |
| Admin fee / account holder | $387 | $556-30.5% | $5,194-92.5% | $479-19.3% |