Filed September 15, 2022
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 10-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $8,012 |
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.
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).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,909 | $51,466-55.5% | $78,778-70.9% | $62,292-63.2% |
| Participation rate | 56.9% | 59.8%-2.9pp | 69.2%-12.3pp | 69.5%-12.7pp |
| Annual return | 16.97% | 19.96%-3.0pp | 35.62%-18.7pp | 28.90%-11.9pp |
| Employer contribution / active EE | $211 | $827-74.5% | $1,986-89.4% | $2,042-89.7% |
| Participant deferral / active EE | $1,032 | $2,147-52.0% | $2,958-65.1% | $3,169-67.4% |
| Admin fee / account holder | $125 | $489-74.4% | $5,134-97.6% | $479-73.9% |