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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $19,511 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $13,446 | $22,714-40.8% | $59,496-77.4% | $55,191-75.6% |
| Participation rate | 39.2% | 37.5%+1.7pp | 54.6%-15.4pp | 69.2%-30.0pp |
| Annual return | -1.97% | -44.01%+42.0pp | 182.05%-184.0pp | 10.78%-12.7pp |
| Employer contribution / active EE | $342 | $418-18.1% | $1,153-70.3% | $1,899-82.0% |
| Participant deferral / active EE | $515 | $843-38.9% | $1,829-71.8% | $3,046-83.1% |
| Admin fee / account holder | $150 | $83+80.1% | $2,232-93.3% | $91+65.3% |