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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $22,291 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Opinion is qualified - a specific issue limited the scope or accuracy of the audit.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $18,434 | $57,921-68.2% | $84,753-78.2% | $57,658-68.0% |
| Participation rate | 40.8% | 72.9%-32.1pp | 76.6%-35.8pp | 70.2%-29.4pp |
| Annual return | 13.42% | 10.24%+3.2pp | 22.78%-9.4pp | 5.13%+8.3pp |
| Employer contribution / active EE | $458 | $2,598-82.4% | $3,574-87.2% | $1,974-76.8% |
| Participant deferral / active EE | $1,279 | $2,742-53.4% | $3,712-65.6% | $3,061-58.2% |
| Admin fee / account holder | $125 | $130-3.4% | $5,333-97.7% | $95+32.5% |