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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,015 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
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 | $15,001 | $44,059-66.0% | $71,671-79.1% | $69,631-78.5% |
| Participation rate | 25.3% | 60.8%-35.5pp | 68.7%-43.4pp | 70.7%-45.4pp |
| Annual return | 15.49% | 21.97%-6.5pp | 20.65%-5.2pp | 27571.02%-27555.5pp |
| Employer contribution / active EE | $147 | $1,305-88.8% | $2,460-94.0% | $2,032-92.8% |
| Participant deferral / active EE | $769 | $2,370-67.6% | $3,438-77.6% | $3,224-76.2% |
| Admin fee / account holder | $108 | $108+0.5% | $5,558-98.1% | $110-2.0% |