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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $65,109 |
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.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
Auditor declined to express an opinion - usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $40,562 | $79,519-49.0% | $95,964-57.7% | $73,412-44.7% |
| Participation rate | 63.5% | 81.2%-17.7pp | 77.1%-13.6pp | 72.2%-8.7pp |
| Annual return | 14.70% | 19.20%-4.5pp | 91.64%-76.9pp | 59.30%-44.6pp |
| Employer contribution / active EE | $1,027 | $2,048-49.9% | $2,541-59.6% | $2,234-54.0% |
| Participant deferral / active EE | $1,883 | $4,138-54.5% | $4,167-54.8% | $3,806-50.5% |
| Admin fee / account holder | $94 | $184-48.8% | $6,797-98.6% | $158-40.2% |