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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,985 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,788 | $37,117-65.5% | $147,614-91.3% | $55,191-76.8% |
| Participation rate | 26.2% | 63.6%-37.4pp | 84.6%-58.4pp | 69.2%-42.9pp |
| Annual return | -1.66% | 3.44%-5.1pp | 61.98%-63.6pp | 10.78%-12.4pp |
| Employer contribution / active EE | $0 | $1,620-100.0% | $5,564-100.0% | $1,899-100.0% |
| Participant deferral / active EE | $650 | $1,985-67.2% | $4,895-86.7% | $3,046-78.7% |
| Admin fee / account holder | $160 | $86+87.4% | $11,611-98.6% | $91+76.6% |