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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $19,191 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $62,228 | $39,948+55.8% | $89,400-30.4% | $73,412-15.2% |
| Participation rate | 18.8% | 50.4%-31.6pp | 68.0%-49.2pp | 72.2%-53.4pp |
| Annual return | 20.34% | 50.12%-29.8pp | 245.64%-225.3pp | 59.30%-39.0pp |
| Employer contribution / active EE | $0 | $1,200-100.0% | $2,586-100.0% | $2,234-100.0% |
| Participant deferral / active EE | $911 | $2,193-58.4% | $3,890-76.6% | $3,806-76.1% |
| Admin fee / account holder | $337 | $134+150.9% | $4,882-93.1% | $158+113.2% |