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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $7,822 |
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.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
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 | $39,918 | $64,909-38.5% | $82,313-51.5% | $62,293-35.9% |
| Participation rate | 44.4% | 74.9%-30.5pp | 76.9%-32.5pp | 69.5%-25.1pp |
| Annual return | 15.56% | 21.18%-5.6pp | 25.88%-10.3pp | 28.90%-13.3pp |
| Employer contribution / active EE | $346 | $1,676-79.3% | $2,428-85.7% | $2,042-83.1% |
| Participant deferral / active EE | $2,405 | $3,103-22.5% | $3,706-35.1% | $3,169-24.1% |
| Admin fee / account holder | $76 | $440-82.7% | $5,608-98.6% | $479-84.2% |