Filed April 11, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $4,051 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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).
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 | $6,446 | $26,805-76.0% | $59,496-89.2% | $52,331-87.7% |
| Participation rate | 20.2% | 39.3%-19.2pp | 54.6%-34.4pp | 68.1%-47.9pp |
| Annual return | 0.59% | 2.61%-2.0pp | 182.05%-181.5pp | 4.54%-4.0pp |
| Employer contribution / active EE | $0 | $450-100.0% | $1,153-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $402 | $916-56.2% | $1,829-78.0% | $3,022-86.7% |
| Admin fee / account holder | $83 | $305-72.9% | $2,232-96.3% | $592-86.0% |