Filed September 23, 2024
Total covered: 12 employees
See peer percentile detail. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
See the 8-year trajectory. $4.99 for your first month.
Solo adds 10-year history, peer benchmarks, provider and welfare analytics, saves, and exports. Then $34.99 a month.
| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $6,078 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
The auditor declined to give an opinion. This is usually a 103(a)(3)(C) limited-scope election.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $22,755 | $43,999-48.3% | $79,464-71.4% | $55,725-59.2% |
| Participation rate | 64.5% | 66.9%-2.4pp | 73.3%-8.8pp | 70.9%-6.3pp |
| Annual return | -3.58% | 1.81%-5.4pp | 718.14%-721.7pp | 244.93%-248.5pp |
| Employer contribution / active EE | $575 | $1,830-68.6% | $2,800-79.5% | $2,078-72.3% |
| Participant deferral / active EE | $2,387 | $2,538-6.0% | $3,704-35.6% | $3,356-28.9% |
| Admin fee / account holder | $16 | $118-86.7% | $5,113-99.7% | $115-86.4% |