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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY3+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $13,105 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Employer contribution per participant 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).
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 | $29,625 | $44,473-33.4% | $76,518-61.3% | $55,725-46.8% |
| Participation rate | 20.9% | 51.0%-30.1pp | 68.0%-47.1pp | 70.9%-50.0pp |
| Annual return | -6.46% | -2.01%-4.5pp | -0.27%-6.2pp | 244.93%-251.4pp |
| Employer contribution / active EE | $151 | $1,101-86.2% | $2,647-94.3% | $2,078-92.7% |
| Participant deferral / active EE | $956 | $1,988-51.9% | $3,836-75.1% | $3,356-71.5% |
| Admin fee / account holder | $142 | $134+6.2% | $4,849-97.1% | $115+23.7% |