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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $88,471 |
Filed as: RAYMOND JAMES & ASSOCIATES, INC. Service code 27 · EIN 59-1237041 | Advisory (Plan) | $31,172 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $71,936 | $96,486-25.4% | $153,500-53.1% | $77,714-7.4% |
| Participation rate | 31.3% | 81.6%-50.4pp | 77.1%-45.8pp | 70.6%-39.3pp |
| Annual return | 12.99% | 14.44%-1.5pp | 15.70%-2.7pp | 31.26%-18.3pp |
| Employer contribution / active EE | $0 | $5,224-100.0% | $5,039-100.0% | $2,727-100.0% |
| Participant deferral / active EE | $2,773 | $6,609-58.0% | $6,756-59.0% | $4,649-40.4% |
| Admin fee / account holder | $623 | $182+241.4% | $12,736-95.1% | $433+43.8% |