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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $66,106 |
Filed as: RAYMOND JAMES & ASSOCIATES, INC. Service code 27 · EIN 59-1237041 | Advisory (Plan) | $0 |
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.)
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 | $51,778 | $72,482-28.6% | $129,110-59.9% | $64,814-20.1% |
| Participation rate | 30.7% | 79.2%-48.5pp | 77.3%-46.5pp | 71.5%-40.7pp |
| Annual return | -17.54% | -9.08%-8.5pp | -10.94%-6.6pp | 32.84%-50.4pp |
| Employer contribution / active EE | $0 | $4,247-100.0% | $5,052-100.0% | $2,507-100.0% |
| Participant deferral / active EE | $2,470 | $5,679-56.5% | $6,542-62.2% | $4,310-42.7% |
| Admin fee / account holder | $469 | $144+224.9% | $14,302-96.7% | $188+149.6% |