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| Provider | Service type | Compensation |
|---|---|---|
PRINCIPAL LIFE INSURANCE COMPANY2+ years Service code 13 · EIN 42-0127290 | Contract Administrator | $84,836 |
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 signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $20,154 | $39,973-49.6% | $79,580-74.7% | $77,906-74.1% |
| Participation rate | 18.3% | 64.6%-46.3pp | 69.5%-51.2pp | 73.7%-55.4pp |
| Annual return | -6.65% | 3.42%-10.1pp | 0.15%-6.8pp | 12.16%-18.8pp |
| Employer contribution / active EE | $2 | $1,088-99.8% | $2,413-99.9% | $2,846-99.9% |
| Participant deferral / active EE | $1,203 | $2,774-56.6% | $3,985-69.8% | $4,805-75.0% |
| Admin fee / account holder | $115 | $113+2.2% | $6,835-98.3% | $133-13.0% |