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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY7+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $39,919 |
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.)
Annual investment return is in the bottom quintile of the peer cohort.
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $67,661 | $70,879-4.5% | $189,557-64.3% | $79,386-14.8% |
| Participation rate | 29.9% | 68.0%-38.0pp | 78.4%-48.5pp | 70.7%-40.8pp |
| Annual return | 10.03% | 20.70%-10.7pp | 64.17%-54.1pp | 116.85%-106.8pp |
| Employer contribution / active EE | $428 | $1,806-76.3% | $4,412-90.3% | $2,427-82.4% |
| Participant deferral / active EE | $1,956 | $4,081-52.1% | $6,174-68.3% | $4,046-51.7% |
| Admin fee / account holder | $768 | $647+18.6% | $9,807-92.2% | $626+22.5% |