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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $77,045 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant 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 | $68,938 | $69,159-0.3% | $125,175-44.9% | $67,579+2.0% |
| Participation rate | 53.8% | 78.2%-24.5pp | 79.8%-26.0pp | 71.3%-17.5pp |
| Annual return | 20.45% | 27.12%-6.7pp | 43.79%-23.3pp | 378.56%-358.1pp |
| Employer contribution / active EE | $0 | $2,023-100.0% | $3,865-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $2,864 | $3,700-22.6% | $4,937-42.0% | $3,539-19.1% |
| Admin fee / account holder | $166 | $142+17.4% | $9,702-98.3% | $142+16.9% |