Filed January 2, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $76,428 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $48,737 | $55,790-12.6% | $76,817-36.6% | $67,579-27.9% |
| Participation rate | 52.7% | 71.1%-18.4pp | 72.1%-19.4pp | 71.3%-18.6pp |
| Annual return | 20.82% | 64.45%-43.6pp | 1166.11%-1145.3pp | 378.56%-357.7pp |
| Employer contribution / active EE | $890 | $1,810-50.8% | $2,302-61.3% | $2,148-58.6% |
| Participant deferral / active EE | $1,732 | $2,875-39.8% | $3,336-48.1% | $3,539-51.1% |
| Admin fee / account holder | $148 | $159-7.1% | $6,420-97.7% | $142+3.9% |