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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $25,632 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $9,588 | $38,312-75.0% | $100,671-90.5% | $59,188-83.8% |
| Participation rate | 20.6% | 57.4%-36.8pp | 70.7%-50.2pp | 69.4%-48.9pp |
| Annual return | 6.22% | 2.64%+3.6pp | 20.43%-14.2pp | 5.51%+0.7pp |
| Employer contribution / active EE | $0 | $1,183-100.0% | $4,012-100.0% | $2,098-100.0% |
| Participant deferral / active EE | $574 | $1,847-68.9% | $3,144-81.7% | $3,265-82.4% |
| Admin fee / account holder | $92 | $68+35.1% | $4,850-98.1% | $92-0.7% |