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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $648 |
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.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $14,235 | $54,573-73.9% | $90,970-84.4% | $73,497-80.6% |
| Participation rate | 50.0% | 61.2%-11.2pp | 69.0%-19.0pp | 70.7%-20.7pp |
| Annual return | 19.35% | 16.69%+2.7pp | 134.60%-115.2pp | 28.51%-9.2pp |
| Employer contribution / active EE | $0 | $991-100.0% | $2,122-100.0% | $2,270-100.0% |
| Participant deferral / active EE | $1,576 | $2,517-37.4% | $3,373-53.3% | $3,740-57.9% |
| Admin fee / account holder | $12 | $521-97.8% | $5,961-99.8% | $513-97.7% |