Filed January 22, 2024
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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $35,128 |
Administrative expenses exceed $300 per participant per year - possible fee-review opportunity. (Recordkeeping / audit / legal; excludes investment management.)
Form 5500 reported a failure to timely transmit participant contributions (Schedule H line 4a).
Assets per participant exceed $250,000 - top-decile high-value plan.
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $264,606 | $104,479+153.3% | $159,474+65.9% | $79,391+233.3% |
| Participation rate | 98.1% | 76.6%+21.5pp | 82.8%+15.3pp | 70.7%+27.4pp |
| Annual return | 19.41% | 67.98%-48.6pp | 263.68%-244.3pp | 116.88%-97.5pp |
| Employer contribution / active EE | $10,807 | $3,417+216.3% | $4,831+123.7% | $2,428+345.1% |
| Participant deferral / active EE | $10,194 | $6,468+57.6% | $7,353+38.6% | $4,046+152.0% |
| Admin fee / account holder | $300 | $711-57.8% | $10,802-97.2% | $627-52.1% |