Filed March 6, 2024
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $3,106,488 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $51,599 | $57,150-9.7% | $93,606-44.9% | $106,382-51.5% |
| Participation rate | 66.9% | 49.1%+17.8pp | 68.7%-1.8pp | 69.9%-3.0pp |
| Annual return | 23.44% | 15.81%+7.6pp | 133.20%-109.8pp | 17.37%+6.1pp |
| Employer contribution / active EE | $654 | $1,015-35.5% | $2,420-73.0% | $3,364-80.5% |
| Participant deferral / active EE | $1,896 | $1,853+2.3% | $4,411-57.0% | $5,569-65.9% |
| Admin fee / account holder | $55 | $64-15.1% | $8,285-99.3% | $79-31.1% |