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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $7,500 |
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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,747 | $73,638-71.8% | $95,960-78.4% | $73,493-71.8% |
| Participation rate | 42.6% | 76.2%-33.5pp | 77.1%-34.4pp | 70.7%-28.0pp |
| Annual return | 15.13% | 16.78%-1.7pp | 91.63%-76.5pp | 28.51%-13.4pp |
| Employer contribution / active EE | $673 | $1,863-63.9% | $2,541-73.5% | $2,270-70.3% |
| Participant deferral / active EE | $1,261 | $3,617-65.1% | $4,167-69.7% | $3,740-66.3% |
| Admin fee / account holder | $125 | $482-74.1% | $6,797-98.2% | $513-75.6% |