Filed May 24, 2016
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY9+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $77,940 |
Service code 17 · EIN 13-5674085 | Pension Consulting | $38,938 |
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 | $52,310 | $93,010-43.8% | $96,515-45.8% | $74,460-29.7% |
| Participation rate | 32.6% | 71.6%-38.9pp | 74.3%-41.7pp | 70.7%-38.1pp |
| Annual return | 17.40% | 37.50%-20.1pp | 35.73%-18.3pp | 34.38%-17.0pp |
| Employer contribution / active EE | $1,207 | $3,427-64.8% | $3,740-67.7% | $2,638-54.2% |
| Participant deferral / active EE | $2,344 | $3,971-41.0% | $4,880-52.0% | $4,530-48.3% |
| Admin fee / account holder | $502 | $633-20.8% | $6,735-92.6% | $348+44.2% |