Filed December 18, 2018 (most recent of 3 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY8+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $18,380 |
Service code 17 · EIN 13-5674085 | Pension Consulting | $17,486 |
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.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Annual investment return is in the bottom quintile of the peer cohort.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Plan reported corrective distributions (failed ADP/ACP testing).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $76,923 | $45,602+68.7% | $117,472-34.5% | $66,914+15.0% |
| Participation rate | 38.8% | 57.6%-18.8pp | 70.6%-31.8pp | 69.8%-31.0pp |
| Annual return | -19.86% | -16.74%-3.1pp | 29.74%-49.6pp | 1.58%-21.4pp |
| Employer contribution / active EE | $347 | $1,579-78.0% | $4,176-91.7% | $2,544-86.4% |
| Participant deferral / active EE | $2,409 | $2,845-15.3% | $4,070-40.8% | $4,237-43.1% |
| Admin fee / account holder | $690 | $661+4.4% | $5,645-87.8% | $593+16.3% |