Filed May 24, 2016
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY10+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $98,883 |
Service code 17 · EIN 13-5674085 | Pension Consulting | $32,895 |
Service code 17 · EIN 99-3201953 | Pension Consulting | $18,451 |
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.)
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $61,026 | $82,972-26.4% | $103,374-41.0% | $77,671-21.4% |
| Participation rate | 36.5% | 71.5%-35.0pp | 74.5%-38.0pp | 70.6%-34.1pp |
| Annual return | 12.76% | 19.14%-6.4pp | 24.89%-12.1pp | 31.21%-18.4pp |
| Employer contribution / active EE | $1,346 | $3,554-62.1% | $3,869-65.2% | $2,726-50.6% |
| Participant deferral / active EE | $2,643 | $4,108-35.7% | $5,058-47.7% | $4,648-43.1% |
| Admin fee / account holder | $623 | $639-2.4% | $8,394-92.6% | $430+44.8% |