Filed December 18, 2023 (most recent of 4 filings on file)
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.
| 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.
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $807 | $48,698-98.3% | $93,606-99.1% | $199,593-99.6% |
| Participation rate | 62.8% | 63.5%-0.7pp | 68.7%-5.9pp | 72.0%-9.2pp |
| Annual return | 0.00% | 15.34%-15.3pp | 133.20%-133.2pp | 34.25%-34.3pp |
| Employer contribution / active EE | $0 | $1,135-100.0% | $2,420-100.0% | $3,034-100.0% |
| Participant deferral / active EE | $588 | $2,817-79.1% | $4,411-86.7% | $5,087-88.4% |
| Admin fee / account holder | $38 | $195-80.4% | $8,285-99.5% | $269-85.8% |