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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $20,210 |
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 | $30,987 | $101,539-69.5% | $147,041-78.9% | $74,400-58.4% |
| Participation rate | 46.4% | 75.5%-29.1pp | 82.2%-35.7pp | 67.2%-20.8pp |
| Annual return | 12.97% | 8740.84%-8727.9pp | 419.21%-406.2pp | 1367.51%-1354.5pp |
| Employer contribution / active EE | $0 | $3,811-100.0% | $4,935-100.0% | $2,624-100.0% |
| Participant deferral / active EE | $1,098 | $7,304-85.0% | $8,071-86.4% | $4,348-74.7% |
| Admin fee / account holder | $171 | $1,749-90.2% | $13,006-98.7% | $1,944-91.2% |