Filed December 9, 2020 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $5,979 |
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.
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $13,049 | $62,132-79.0% | $185,823-93.0% | $73,488-82.2% |
| Participation rate | 24.0% | 67.8%-43.8pp | 78.0%-54.0pp | 70.7%-46.6pp |
| Annual return | 16.50% | 20.44%-3.9pp | 35.95%-19.5pp | 28.51%-12.0pp |
| Employer contribution / active EE | $584 | $1,681-65.3% | $4,087-85.7% | $2,270-74.3% |
| Participant deferral / active EE | $971 | $3,711-73.8% | $5,632-82.8% | $3,740-74.0% |
| Admin fee / account holder | $194 | $419-53.6% | $9,500-98.0% | $513-62.1% |