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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $12,893 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $2,987 |
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.
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 | $7,413 | $28,416-73.9% | $73,550-89.9% | $69,631-89.4% |
| Participation rate | 59.6% | 38.3%+21.2pp | 54.9%+4.7pp | 70.7%-11.1pp |
| Annual return | 18.50% | -694.13%+712.6pp | -15.16%+33.7pp | 27571.02%-27552.5pp |
| Employer contribution / active EE | $0 | $430-100.0% | $1,219-100.0% | $2,032-100.0% |
| Participant deferral / active EE | $350 | $897-61.0% | $1,804-80.6% | $3,224-89.2% |
| Admin fee / account holder | $41 | $104-60.3% | $2,320-98.2% | $110-62.5% |