Filed October 19, 2021
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $186,000 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,724 | $41,040-44.6% | $85,187-73.3% | $99,314-77.1% |
| Participation rate | 17.5% | 34.4%-16.9pp | 67.5%-50.0pp | 71.7%-54.2pp |
| Annual return | 15.07% | 17.44%-2.4pp | 66.67%-51.6pp | 17.67%-2.6pp |
| Employer contribution / active EE | $172 | $1,106-84.5% | $2,732-93.7% | $3,264-94.7% |
| Participant deferral / active EE | $761 | $2,193-65.3% | $4,525-83.2% | $5,346-85.8% |
| Admin fee / account holder | $96 | $177-45.7% | $6,162-98.4% | $109-11.9% |