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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $5,395 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant 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).
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 | $23,226 | $56,894-59.2% | $84,753-72.6% | $62,881-63.1% |
| Participation rate | 19.6% | 68.5%-49.0pp | 76.6%-57.0pp | 69.3%-49.7pp |
| Annual return | 6.51% | 6.30%+0.2pp | 22.78%-16.3pp | 20.14%-13.6pp |
| Employer contribution / active EE | $0 | $2,400-100.0% | $3,574-100.0% | $2,281-100.0% |
| Participant deferral / active EE | $162 | $2,709-94.0% | $3,712-95.6% | $3,203-94.9% |
| Admin fee / account holder | $200 | $3,581-94.4% | $5,333-96.3% | $4,296-95.3% |