Filed April 3, 2023
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY6+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $4,966 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
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 | $24,006 | $58,888-59.2% | $178,499-86.6% | $73,493-67.3% |
| Participation rate | 55.2% | 66.2%-11.0pp | 81.9%-26.7pp | 70.7%-15.5pp |
| Annual return | 10.68% | 24.86%-14.2pp | 151.10%-140.4pp | 28.51%-17.8pp |
| Employer contribution / active EE | $520 | $2,236-76.8% | $5,011-89.6% | $2,270-77.1% |
| Participant deferral / active EE | $681 | $2,568-73.5% | $5,202-86.9% | $3,740-81.8% |
| Admin fee / account holder | $33 | $400-91.8% | $13,986-99.8% | $513-93.6% |