Filed February 8, 2017
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $15,335 |
Service code 27 · EIN 36-4291971 | Advisory (Plan) | $12,392 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,275 | $47,180-48.5% | $149,723-83.8% | $74,473-67.4% |
| Participation rate | 38.2% | 63.4%-25.2pp | 78.8%-40.6pp | 70.7%-32.6pp |
| Annual return | 14.91% | 22.75%-7.8pp | 134.50%-119.6pp | 34.36%-19.4pp |
| Employer contribution / active EE | $152 | $1,907-92.0% | $4,821-96.8% | $2,638-94.2% |
| Participant deferral / active EE | $967 | $2,730-64.6% | $5,682-83.0% | $4,530-78.7% |
| Admin fee / account holder | $69 | $343-79.8% | $13,215-99.5% | $347-80.1% |