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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $53,751 |
Service code 17 · EIN 13-5674085 | Pension Consulting | $33,366 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $7,979 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $132,378 | $69,383+90.8% | $101,271+30.7% | $73,493+80.1% |
| Participation rate | 46.6% | 68.4%-21.8pp | 75.8%-29.3pp | 70.7%-24.1pp |
| Annual return | 13.21% | 18.46%-5.2pp | 46.48%-33.3pp | 28.51%-15.3pp |
| Employer contribution / active EE | $2,136 | $2,628-18.7% | $3,660-41.6% | $2,270-5.9% |
| Participant deferral / active EE | $3,395 | $3,301+2.8% | $4,371-22.3% | $3,740-9.2% |
| Admin fee / account holder | $640 | $704-9.0% | $5,948-89.2% | $513+24.8% |