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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $14,577 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $2,689 |
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.
Annual investment return is in the bottom quintile of the peer cohort.
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 | $11,928 | $23,385-49.0% | $69,182-82.8% | $57,658-79.3% |
| Participation rate | 32.3% | 37.9%-5.6pp | 55.1%-22.8pp | 70.2%-37.9pp |
| Annual return | 3.63% | -659.34%+663.0pp | -21.93%+25.6pp | 5.13%-1.5pp |
| Employer contribution / active EE | $0 | $422-100.0% | $1,206-100.0% | $1,974-100.0% |
| Participant deferral / active EE | $393 | $843-53.3% | $1,897-79.3% | $3,061-87.1% |
| Admin fee / account holder | $91 | $82+10.9% | $2,697-96.6% | $95-3.6% |