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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $20,129 |
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).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $3,160 | $67,512-95.3% | $185,823-98.3% | $93,030-96.6% |
| Participation rate | 23.5% | 67.1%-43.6pp | 81.7%-58.2pp | 73.9%-50.4pp |
| Annual return | 0.00% | 21.04%-21.0pp | 122.05%-122.1pp | 158.70%-158.7pp |
| Employer contribution / active EE | $0 | $1,783-100.0% | $5,167-100.0% | $2,706-100.0% |
| Participant deferral / active EE | $506 | $3,035-83.3% | $5,568-90.9% | $4,562-88.9% |
| Admin fee / account holder | $47 | $318-85.3% | $16,237-99.7% | $152-69.3% |