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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $17,151 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $24,950 | $91,424-72.7% | $135,942-81.6% | $71,495-65.1% |
| Participation rate | 55.5% | 75.7%-20.2pp | 81.9%-26.4pp | 67.9%-12.4pp |
| Annual return | 17.24% | 29.90%-12.7pp | 68.28%-51.0pp | 28.85%-11.6pp |
| Employer contribution / active EE | $0 | $3,704-100.0% | $4,858-100.0% | $2,589-100.0% |
| Participant deferral / active EE | $1,105 | $7,092-84.4% | $7,759-85.8% | $4,291-74.2% |
| Admin fee / account holder | $136 | $1,266-89.2% | $10,764-98.7% | $1,588-91.4% |