Filed December 9, 2020 (most recent of 2 filings on file)
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $11,558 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
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).
The auditor signed off without reservation. This is the cleanest opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $21,160 | $69,010-69.3% | $159,960-86.8% | $68,494-69.1% |
| Participation rate | 35.2% | 65.4%-30.2pp | 78.0%-42.7pp | 67.9%-32.7pp |
| Annual return | -22.09% | -9.65%-12.4pp | 408.60%-430.7pp | -7.84%-14.2pp |
| Employer contribution / active EE | $818 | $2,213-63.0% | $4,226-80.6% | $2,596-68.5% |
| Participant deferral / active EE | $2,637 | $4,212-37.4% | $6,182-57.3% | $4,027-34.5% |
| Admin fee / account holder | $456 | $4,798-90.5% | $8,698-94.8% | $5,403-91.6% |