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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $20,688 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $51,411 | $52,639-2.3% | $185,117-72.2% | $62,293-17.5% |
| Participation rate | 25.2% | 63.9%-38.6pp | 77.3%-52.1pp | 69.5%-44.3pp |
| Annual return | 16.97% | 19.57%-2.6pp | 40.50%-23.5pp | 28.90%-11.9pp |
| Employer contribution / active EE | $301 | $1,483-79.7% | $4,182-92.8% | $2,042-85.3% |
| Participant deferral / active EE | $1,376 | $3,097-55.6% | $5,045-72.7% | $3,169-56.6% |
| Admin fee / account holder | $559 | $374+49.6% | $8,159-93.1% | $479+16.6% |