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 | $83,023-26.5% | $102,437-40.4% | $77,762-21.5% |
| Participation rate | 36.5% | 71.5%-35.0pp | 74.5%-38.0pp | 70.6%-34.1pp |
| Annual return | 12.76% | 19.12%-6.4pp | 24.95%-12.2pp | 31.27%-18.5pp |
| Employer contribution / active EE | $1,346 | $3,552-62.1% | $3,871-65.2% | $2,728-50.7% |
| Participant deferral / active EE | $2,643 | $4,110-35.7% | $5,060-47.8% | $4,651-43.2% |
| Admin fee / account holder | $623 | $639-2.5% | $8,388-92.6% | $433+44.0% |