Filed February 8, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $21,484 |
Service code 27 · EIN 74-2794194 | Advisory (Plan) | $9,789 |
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.
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 | $18,402 | $36,916-50.2% | $156,551-88.2% | $57,658-68.1% |
| Participation rate | 37.5% | 63.4%-26.0pp | 84.0%-46.5pp | 70.2%-32.8pp |
| Annual return | 5.95% | 12.38%-6.4pp | 32.23%-26.3pp | 5.13%+0.8pp |
| Employer contribution / active EE | $106 | $1,571-93.2% | $5,501-98.1% | $1,974-94.6% |
| Participant deferral / active EE | $636 | $1,926-67.0% | $4,871-86.9% | $3,061-79.2% |
| Admin fee / account holder | $101 | $82+22.5% | $13,028-99.2% | $95+6.9% |