Filed May 1, 2019
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $18,162 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Plan reported corrective distributions (failed ADP/ACP testing).
Sponsor crossed the 100-balance-holder threshold in the most recent filing - large-plan audit requirement now applies.
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 | $37,738 | $50,898-25.9% | $171,082-77.9% | $55,167-31.6% |
| Participation rate | 57.4% | 63.3%-5.9pp | 76.7%-19.3pp | 69.0%-11.6pp |
| Annual return | 7.99% | 15.34%-7.4pp | 32.56%-24.6pp | 169.23%-161.2pp |
| Employer contribution / active EE | $516 | $1,433-64.0% | $4,002-87.1% | $1,963-73.7% |
| Participant deferral / active EE | $2,258 | $2,994-24.6% | $4,797-52.9% | $3,054-26.1% |
| Admin fee / account holder | $141 | $500-71.8% | $8,520-98.3% | $504-72.1% |