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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY5+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $21,314 |
Filed as: MERRILL LYNCH LIFE AGENCY INC Service code 49 · EIN 13-2808480 | Other Services | $2,716 |
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.
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 | $13,152 | $25,302-48.0% | $74,719-82.4% | $67,579-80.5% |
| Participation rate | 28.5% | 37.8%-9.3pp | 54.5%-26.0pp | 71.3%-42.8pp |
| Annual return | 21.77% | 10291.17%-10269.4pp | 753.05%-731.3pp | 378.56%-356.8pp |
| Employer contribution / active EE | $0 | $446-100.0% | $1,084-100.0% | $2,148-100.0% |
| Participant deferral / active EE | $311 | $954-67.4% | $1,963-84.1% | $3,539-91.2% |
| Admin fee / account holder | $116 | $108+8.2% | $3,334-96.5% | $142-18.1% |