Filed January 2, 2020
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $86,978 |
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $19,827 | $72,066-72.5% | $81,930-75.8% | $90,288-78.0% |
| Participation rate | 73.0% | 78.9%-5.9pp | 72.0%+1.0pp | 73.4%-0.3pp |
| Annual return | 13.97% | 15.92%-1.9pp | 29.49%-15.5pp | 53.97%-40.0pp |
| Employer contribution / active EE | $792 | $2,335-66.1% | $4,310-81.6% | $2,524-68.6% |
| Participant deferral / active EE | $1,566 | $3,557-56.0% | $7,107-78.0% | $4,232-63.0% |
| Admin fee / account holder | $63 | $92-31.4% | $5,158-98.8% | $114-44.4% |