Filed December 18, 2018 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $368 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $49,091 | $41,377+18.6% | $109,313-55.1% | $62,881-21.9% |
| Participation rate | 42.2% | 57.5%-15.3pp | 71.3%-29.0pp | 69.3%-27.1pp |
| Annual return | 5.86% | 11.05%-5.2pp | 22.07%-16.2pp | 20.14%-14.3pp |
| Employer contribution / active EE | $334 | $1,276-73.8% | $3,892-91.4% | $2,281-85.4% |
| Participant deferral / active EE | $1,893 | $2,045-7.5% | $3,166-40.2% | $3,203-40.9% |
| Admin fee / account holder | $8 | $2,884-99.7% | $5,666-99.9% | $4,296-99.8% |