Filed April 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $4,658 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
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 | $18,888 | $36,916-48.8% | $156,551-87.9% | $57,658-67.2% |
| Participation rate | 54.6% | 63.4%-8.8pp | 84.0%-29.4pp | 70.2%-15.6pp |
| Annual return | 5.43% | 12.38%-6.9pp | 32.23%-26.8pp | 5.13%+0.3pp |
| Employer contribution / active EE | $414 | $1,571-73.7% | $5,501-92.5% | $1,974-79.0% |
| Participant deferral / active EE | $582 | $1,926-69.8% | $4,871-88.1% | $3,061-81.0% |
| Admin fee / account holder | $27 | $82-67.5% | $13,028-99.8% | $95-71.7% |