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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY1+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $6,972 |
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).
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 | $16,712 | $39,245-57.4% | $64,105-73.9% | $52,331-68.1% |
| Participation rate | 36.5% | 58.2%-21.7pp | 68.2%-31.7pp | 68.1%-31.6pp |
| Annual return | -1.79% | 14.79%-16.6pp | 791.24%-793.0pp | 4.54%-6.3pp |
| Employer contribution / active EE | $0 | $736-100.0% | $1,820-100.0% | $1,882-100.0% |
| Participant deferral / active EE | $596 | $1,992-70.1% | $2,822-78.9% | $3,022-80.3% |
| Admin fee / account holder | $74 | $592-87.6% | $4,499-98.4% | $592-87.5% |