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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $13,014 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $9,561 |
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 | $65,133 | $55,449+17.5% | $83,831-22.3% | $56,289+15.7% |
| Participation rate | 14.5% | 68.0%-53.6pp | 76.1%-61.7pp | 69.9%-55.4pp |
| Annual return | -6.90% | -1.38%-5.5pp | 850.99%-857.9pp | -9.96%+3.1pp |
| Employer contribution / active EE | $573 | $2,430-76.4% | $3,631-84.2% | $2,111-72.8% |
| Participant deferral / active EE | $1,299 | $2,935-55.8% | $4,082-68.2% | $3,350-61.2% |
| Admin fee / account holder | $434 | $656-33.9% | $5,479-92.1% | $521-16.7% |