Filed April 11, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $2,364 |
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 | $6,297 | $25,723-75.5% | $69,182-90.9% | $55,167-88.6% |
| Participation rate | 22.1% | 39.4%-17.4pp | 55.1%-33.0pp | 69.0%-46.9pp |
| Annual return | 7.16% | 9.56%-2.4pp | -21.94%+29.1pp | 169.23%-162.1pp |
| Employer contribution / active EE | $0 | $480-100.0% | $1,205-100.0% | $1,963-100.0% |
| Participant deferral / active EE | $502 | $963-47.9% | $1,896-73.5% | $3,054-83.6% |
| Admin fee / account holder | $66 | $365-82.0% | $2,697-97.6% | $504-86.9% |