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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $14,293 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $36,771 | $44,473-17.3% | $76,523-51.9% | $55,725-34.0% |
| Participation rate | 20.0% | 51.0%-31.0pp | 68.0%-48.0pp | 70.9%-50.9pp |
| Annual return | -5.83% | -2.01%-3.8pp | -0.27%-5.6pp | 244.93%-250.8pp |
| Employer contribution / active EE | $0 | $1,101-100.0% | $2,647-100.0% | $2,078-100.0% |
| Participant deferral / active EE | $852 | $1,988-57.1% | $3,835-77.8% | $3,356-74.6% |
| Admin fee / account holder | $242 | $134+80.6% | $4,848-95.0% | $115+110.3% |