Filed March 18, 2022
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| Provider | Service type | Compensation |
|---|---|---|
Filed as: PRINCIPAL LIFE INSURANCE COMPNAY Service code 13 · EIN 42-0127290 | Contract Administrator | $44,634 |
Service code 27 · EIN 47-1411118 | Advisory (Plan) | $9,642 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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 | $40,579 | $63,745-36.3% | $98,442-58.8% | $79,386-48.9% |
| Participation rate | 88.8% | 69.9%+18.9pp | 73.3%+15.5pp | 70.7%+18.1pp |
| Annual return | 13.58% | 625.80%-612.2pp | 1492.73%-1479.2pp | 116.85%-103.3pp |
| Employer contribution / active EE | $1,312 | $2,557-48.7% | $2,960-55.7% | $2,427-45.9% |
| Participant deferral / active EE | $2,246 | $3,303-32.0% | $4,276-47.5% | $4,046-44.5% |
| Admin fee / account holder | $363 | $516-29.6% | $5,949-93.9% | $626-42.1% |