Filed November 22, 2021
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $844 |
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.
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).
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 | $3,198 | $91,517-96.5% | $101,275-96.8% | $73,415-95.6% |
| Participation rate | 21.7% | 73.8%-52.0pp | 75.8%-54.1pp | 72.2%-50.4pp |
| Annual return | 0.00% | 17.17%-17.2pp | 46.46%-46.5pp | 59.30%-59.3pp |
| Employer contribution / active EE | $213 | $2,877-92.6% | $3,660-94.2% | $2,234-90.5% |
| Participant deferral / active EE | $403 | $3,338-87.9% | $4,370-90.8% | $3,806-89.4% |
| Admin fee / account holder | $12 | $216-94.6% | $5,948-99.8% | $158-92.7% |