Filed December 21, 2023 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $104,821 |
Filed as: PRINCIPAL SECURITIES INC Service code 49 · EIN 42-0941553 | Other Services | $33,933 |
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).
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 | $86,520 | $111,608-22.5% | $177,827-51.3% | $73,412+17.9% |
| Participation rate | 99.3% | 87.9%+11.5pp | 87.7%+11.6pp | 72.2%+27.2pp |
| Annual return | 17.23% | 18.23%-1.0pp | 48.32%-31.1pp | 59.30%-42.1pp |
| Employer contribution / active EE | $4,624 | $3,796+21.8% | $5,918-21.9% | $2,234+107.0% |
| Participant deferral / active EE | $5,900 | $6,199-4.8% | $7,713-23.5% | $3,806+55.0% |
| Admin fee / account holder | $304 | $166+83.5% | $12,429-97.6% | $158+92.4% |