Filed January 2, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $88,610 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Annual investment return is in the bottom quintile of the peer cohort.
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $41,239 | $48,277-14.6% | $63,517-35.1% | $55,191-25.3% |
| Participation rate | 52.4% | 69.4%-17.0pp | 71.0%-18.6pp | 69.2%-16.7pp |
| Annual return | -1.46% | 2.37%-3.8pp | -70.30%+68.8pp | 10.78%-12.2pp |
| Employer contribution / active EE | $725 | $1,592-54.4% | $2,322-68.8% | $1,899-61.8% |
| Participant deferral / active EE | $1,543 | $2,432-36.6% | $2,953-47.8% | $3,046-49.3% |
| Admin fee / account holder | $219 | $86+155.1% | $5,892-96.3% | $91+141.6% |