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| Provider | Service type | Compensation |
|---|---|---|
Filed as: PRINCIPAL LIFE INSURCANCE COMPANY Service code 13 · EIN 42-0127290 | Contract Administrator | $44,008 |
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $27,082 | $30,086-10.0% | $61,373-55.9% | $64,808-58.2% |
| Participation rate | 6.4% | 36.4%-30.0pp | 52.6%-46.2pp | 71.5%-65.1pp |
| Annual return | -19.60% | -13.99%-5.6pp | 338.61%-358.2pp | 32.82%-52.4pp |
| Employer contribution / active EE | $255 | $536-52.5% | $1,159-78.0% | $2,506-89.8% |
| Participant deferral / active EE | $519 | $1,126-53.9% | $2,125-75.6% | $4,310-88.0% |
| Admin fee / account holder | $846 | $148+471.3% | $2,130-60.3% | $188+350.7% |