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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $35,664 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $12,453 | $50,151-75.2% | $149,696-91.7% | $80,157-84.5% |
| Participation rate | 8.1% | 64.3%-56.2pp | 78.8%-70.7pp | 72.9%-64.8pp |
| Annual return | 29.11% | 29.80%-0.7pp | 134.46%-105.3pp | 40.39%-11.3pp |
| Employer contribution / active EE | $0 | $1,867-100.0% | $4,821-100.0% | $2,977-100.0% |
| Participant deferral / active EE | $317 | $3,194-90.1% | $5,682-94.4% | $5,015-93.7% |
| Admin fee / account holder | $147 | $153-3.9% | $13,212-98.9% | $145+1.2% |