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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $75,351 |
Filed as: RAYMOND JAMES INSURANCE GROUP INC Service code 27 · EIN 59-1199408 | Advisory (Plan) | $26,132 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
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 | $57,047 | $72,554-21.4% | $138,135-58.7% | $73,493-22.4% |
| Participation rate | 38.8% | 74.8%-36.0pp | 78.7%-39.9pp | 70.7%-31.9pp |
| Annual return | 8.98% | 17.50%-8.5pp | 20.51%-11.5pp | 28.51%-19.5pp |
| Employer contribution / active EE | $1,437 | $3,511-59.1% | $5,587-74.3% | $2,270-36.7% |
| Participant deferral / active EE | $4,173 | $4,908-15.0% | $6,431-35.1% | $3,740+11.6% |
| Admin fee / account holder | $554 | $464+19.3% | $11,856-95.3% | $513+8.0% |