Filed December 18, 2023 (most recent of 4 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $111,648 |
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.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $807 | $48,744-98.3% | $93,727-99.1% | $200,096-99.6% |
| Participation rate | 62.8% | 63.7%-0.9pp | 68.7%-5.9pp | 72.0%-9.2pp |
| Annual return | 0.00% | 15.36%-15.4pp | 133.83%-133.8pp | 34.26%-34.3pp |
| Employer contribution / active EE | $0 | $1,140-100.0% | $2,421-100.0% | $3,038-100.0% |
| Participant deferral / active EE | $588 | $2,825-79.2% | $4,417-86.7% | $5,090-88.4% |
| Admin fee / account holder | $38 | $195-80.4% | $8,292-99.5% | $269-85.8% |