Filed January 2, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $78,227 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
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 | $41,621 | $50,106-16.9% | $69,779-40.4% | $57,658-27.8% |
| Participation rate | 53.8% | 70.9%-17.1pp | 71.8%-18.0pp | 70.2%-16.4pp |
| Annual return | 6.97% | 14.58%-7.6pp | 12.99%-6.0pp | 5.13%+1.8pp |
| Employer contribution / active EE | $780 | $1,739-55.2% | $2,338-66.7% | $1,974-60.5% |
| Participant deferral / active EE | $1,513 | $2,486-39.1% | $2,931-48.4% | $3,061-50.6% |
| Admin fee / account holder | $174 | $89+95.3% | $4,381-96.0% | $95+84.3% |